• Sands wins debt regrade

Resort developer and operator Las Vegas Sands has rescheduled its debts, as its credit rating has improved to investment grade. The company will pay a higher interest rate on a USD2.5bn loan, in return for extended maturity dates and the removal of covenants, reports Bloomberg.

The rerating by Standard & Poor’s has moved Sands from BB+ to BBB-, acknowledging the company’s lower debt leverage. The new deal provides a seven year term, while some of the current arrangements fell due in late 2016.
Read the full story here:

Share →