Fitch upgrades Corner Investment

Fitch Ratings said it affirmed the issuer default ratings of Caesars Entertainment Corp. (CEC, the parent) at CC and the issuer default ratings of Caesars Entertainment Resort Properties, LLC (CERP) and Caesars Growth Properties Holdings LLC (CGPH) at B-.

All of the issue-specific ratings for CERP and CGPH were affirmed.

The agency also upgraded the issuer default rating of Corner Investment PropCo, LLC to B- from CCC and its credit facility rating to B+/RR2 from B-/RR2.

All issuers all have stable outlooks.

Fitch said the upgrade of Corner Investment reflects the continued ramp up of the property that is in line with Fitch's original expectations and leverage metrics more consistent with a B category issuer default rating. Similar overhangs from the CEOC bankruptcy that apply to CERP and CGPH also apply to Corner Investment.

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