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Fitch rates VICI, notes BB
Fitch Ratings said it assigned BB ratings to VICI Properties Inc. and its issuing subsidiaries VICI Properties LP and VICI Properties 1 LLC.
Fitch also assigned an expected rating of BB/RR4 ratings to the proposed senior unsecured notes.
The senior unsecured notes will be offered to repay the CMBS loan secured by Caesars Palace Las Vegas and will be guaranteed by VICI Properties 1 and other subsidiaries including the subsidiary that owns the real assets of Caesars Palace Las Vegas, Fitch said.
In addition, the agency assigned BBB-/RR1 ratings to VICI Properties 1’s senior secured credit facility and BB+/RR2 ratings to the second-lien secured notes.
The outlook is stable.
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