New York, October 13, 2016 -- Moody's Investors Service, ("Moody's") changed the rating outlook to stable from negative for Caesars Entertainment Resorts Properties, LLC ("CERP"), Caesars Growth Properties Holdings, LLC ("CGPH"), Chester Downs and Marina, LLC ("Chester"), and CBAC Gaming LLC ("CBAC"). The change in outlook for each company reflects the October 4, 2016 announcement that Caesars Entertainment Corporation ("CEC") and Caesars Entertainment Operating ("CEOC") and other related parties had entered into Restructuring Support Agreements ("RSAs") with all major creditor groups and such RSAs do not include any contribution from the entities subject to this rating action and also contemplate that all related litigation among the major creditor constituencies, CEC and related parties will be ultimately released. The affirmation of each entities' ratings reflects good liquidity, and Moody's stable gaming industry outlook that supports flat to modestly higher EBITDA over the next year. Further positive rating action will be considered as potential refinancing plans unfold and if CEOC's bankruptcy proceedings continue to move toward resolution and if the merger of Caesars Acquisition Company ("CAC") into CEC (as contemplated by the plan of reorganization) remains on track.

Vollständigen Artikel bei Moodys lesen