S&P affirms Eldorado Resorts

S&P said it affirmed its B+ corporate credit on Eldorado Resorts Inc. The outlook remains stable.

The issue-level and recovery ratings on Eldorado are unchanged. Eldorado anticipates raising $600 million in incremental debt to fund the acquisitions.

“While it currently intends to issue unsecured notes, we believe its financing plans could change depending on market conditions. That said, we believe the incremental value from the acquired assets will offset the incremental debt – whether it is secured or unsecured – and will not impair lenders' recovery prospects,” S&P said in a news release.

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