• 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:
http://www.bloomberg.com/news/2013-12-04/las-vegas-sands-to-pay-higher-rate-on-loans-as-ratings-increased.html?cmpid=yhoo

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