Fitch changes MGM Growth Properties view to negative

Fitch Ratings said it changed the outlook to negative from stable and affirmed the long-term issuer default ratings of MGM Growth Properties, LLC and MGM Growth Properties Operating Partnership LP at BB+ and the partnership’s senior secured debt at BBB-/RR1 and senior unsecured debt at BB+/RR4.

“The revision of MGP's rating outlook to negative reflects the operational disruptions faced by MGP's tenant MGM Resorts International (MGM) while its casinos are closed due to the coronavirus pandemic. The rating outlook further reflects the uncertainty surrounding the duration of the closures and the subsequent recovery,” said Fitch in a press release.

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