S&P gives B+ to new MGM Resorts notes

Standard & Poor's said it assigned MGM Resorts International's proposed $500 million of senior unsecured notes due 2020 its B+ issue-level rating, with a recovery rating of 4, indicating an expectation for average (30% to 50%) recovery for lenders in the event of a payment default.

All other ratings, including the B+ corporate credit rating, remain unchanged. The outlook is stable.

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