Moody's imposes new debt rating on Las Vegas company

Kuala Lumpur News.Net
Tuesday 1st December, 2009

Moody's Investors Service in the US has confirmed it has dropped the ratings for the Las Vegas Sands Corp.

The casino operator has been given the negative outlook B3 junk rating, which signifies the probability of default and long-term debt.

It is believed the negative rating outlook reflects risk related to Sands' Singapore $5.5 billion casino project.

But Moody's also raised the company's speculative grade liquidity rating to SGL-2 from SGL-3, saying that recent positive events had improved the company's liquidity and debt position.

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