S&P Global raised its issuer credit ratings on Las Vegas Sands and its subsidiaries, including Sands China, to “BBB-” from “BB+”. The firm also raised its issue-level rating on Sands China’s unsecured debt to “BBB-“. The ratings agency says an accelerating recovery in Macao’s cash flow combined with solid performance in Singapore should “support more rapid deleveraging” for Las Vegas Sands. Macao’s gaming revenue recovery has continued to accelerate, S&P said in a statement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LVS:
- Bet On It: Entain acquires sports modeling company Angstrom Sports
- Las Vegas Sands price target lowered to $68 from $72 at Argus
- 3 Best Stocks to Buy Now, 7/21/2023, According to Top Analysts
- Las Vegas Sands price target lowered to $65 from $66 at BofA
- Las Vegas Sands price target raised to $78 from $73 at Stifel