Moody’s lifts some of Caesars group views to stable

Moody's Investors Service said it changed the outlook to stable from negative on Caesars Entertainment Resorts Properties, LLC, Caesars Growth Properties Holdings, LLC, Chester Downs and Marina, LLC and CBAC Gaming LLC.

The change in outlook for each company reflects an Oct. 4 announcement that Caesars Entertainment Corp. and Caesars Entertainment Operating and other related parties entered into restructuring support agreements with all major creditor groups, Moody’s said.

The agreements do not include any contribution from the entities subject to this rating action and also contemplate that all related litigation among the major creditor constituencies and related parties will be ultimately released, the agency said.

The ratings reflect the group’s good liquidity and a view of the gaming industry’s stable outlook, which supports flat to modestly higher EBITDA over the next year, Moody’s said.

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