Fitch revises VICI view to stable

Fitch Ratings said it revised the outlook to stable from negative for VICI Properties Inc. and its issuing subsidiaries VICI Properties LP's and VICI Properties 1 LLC.

“The stable outlook reflects improving clarity about the impact of Covid-19 on the U.S. gaming sector, including VICI's main tenant Caesars Entertainment, Inc. (Caesars). The outlook also reflects VICI's tendency to manage towards the lower end of its 5x-5.5x net leverage target range, its proactive pre-funding of acquisitions, and its migration towards an all-unsecured capital structure. Fitch views the announced Venetian acquisition positively,” the agency said in a press release.

Fitch affirmed the companies' long-term issuer default ratings at BB. Fitch also affirmed the subsidiaries' debt ratings.

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