News Column

Fitch Updates Recovery Analyses for U.S. Gaming Operators

July 24, 2014



NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published updated recovery analyses for the following U.S. gaming operators:

--Caesars Entertainment Operating Co. (including Chester Downs and Marina LLC)

--Caesars Entertainment Resort Properties, LLC

--Caesars Growth Properties Holdings, LLC

--MGM Resorts International

--Boyd Gaming Corporation

--Marina District Finance Company, Inc. (Borgata)

--Peninsula Gaming, LLC

--Pinnacle Entertainment, Inc.

The interactive recovery analysis worksheets are available at 'www.fitchratings.com' under the following headers:

Sectors >> Corporate Finance >> Corporates >> Research

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Recovery Ratings and Notching Criteria for Nonfinancial Corporate Issuers' Nov. 13, 2013;

--'Corporate Rating Methodology' Aug. 05, 2013.

Applicable Criteria and Related Research: U.S. Gaming Recovery Models - First-Quarter 2014

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753081

Corporate Rating Methodology: Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715139

Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=721836

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Michael Paladino, CFA

Senior Director

+1-212-908-9113

Fitch Ratings, Inc.

33 Whitehall St.

New York, NY 10004

or

Alex Bumazhny, CFA

Director

+1-212-908-9179

or

Media Ratings

Brian Bertsch, +1-212-908-0549

brian.bertsch@fitchratings.com


Source: Fitch Ratings


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