Fitch rates Resorts World Las Vegas loans, notes A-

Fitch Ratings said it published Resorts World Las Vegas LLC's long-term issuer default rating and senior unsecured rating of A-.

The outlook is stable.

At the same time, the agency has assigned A- expected ratings to the company’s proposed senior secured revolver and term-loan facilities and the proposed senior unsecured notes to be issued by Resorts World and its wholly owned subsidiary, RWLV Capital Inc.

Resorts World, a wholly owned indirect subsidiary of Genting Berhad (A-/stable), is developing a $4 billion integrated resort on the Las Vegas strip.

The company plans to finance a portion of the cost of construction and operation using proceeds from the proposed secured revolver, term-loan facilities and unsecured notes.

“We have equalised RWLV's ratings with those of Genting based on strong operational and strategic ties between the entities,” the agency said in a news release.

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