| Title: | Research Update: MGM MIRAGE Outlook Revised To Stable From Positive; 'BB' Rating Affirmed |
| Price: | $175.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | Research Update |
| Abstract: | On May 7, 2008, Standard&Poor's Ratings Services revised its rating outlook on Las Vegas-based MGM MIRAGE to stable from positive. Ratings on the company, including the 'BB' corporate credit rating, were affirmed. The outlook revision reflects our assessment that rating upside potential is unlikely over the intermediate term, given current weak operating trends on the Las Vegas Strip, which accounted for 84% and 74% of MGM MIRAGE's revenue and property level EBITDA, respectively, during the 12 months ended March 31, 2008. The company has taken a more aggressive posture toward share repurchases in recent months than we had previously anticipated, having spent $1.1 billion on buybacks during the quarter ended March 31, 2008 (about $430 million more than |
| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: MGM MIRAGE Outlook Revised To Stable From Positive; '##' Rating Affirmed Publication date: ##-May-#### Primary Credit Analyst: Ben Bubeck, CFA, New York (#) ###-###-####; ben_bubeck@standardandpoors.com... |
| Word Count: | 1417 |
| Ticker: | MGG |
| Issuer: | MGM MIRAGE |
| GICS: | Casinos & Gaming (25301010) |
| Sector: | Global Issuers, Structured Finance, Corporations, Asset-Backed Securities, Hotel & Gaming |
| Country: | United States |
| Region: | United States |
| Format: | 
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