Moody's gives Harrah's notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the $750 million of 6.5% senior unsecured notes due 2016 of Harrah's Operating Co. guaranteed by Harrah's Entertainment, Inc.

Harrah's existing senior unsecured Baa3 ratings are affirmed and the outlook is stable, the agency said.

Moody's added it acknowledges that this refinancing extends maturities and will slightly lower future interest expense, which are credit positives.

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