PCI Gaming Authority d/b/a Wind Creek Hospitality (PCI)-–the casino operator of the Alabama-based Poarch Band of Creek Indians--plans to issue a new credit facility consisting of a $100 million revolving credit facility due 2024 and a $1.3 billion first-lien term loan due 2026. It will use proceeds from the credit facility, along with cash on hand, to finance its acquisition of the Sands Casino Resort Bethlehem in Bethlehem, Pa. and fund planned growth capital expenditures (capex) at the casino. We assigned our 'BB+' issuer credit rating and stable outlook to PCI. In addition, we assigned our 'BB+' issue-level rating to the proposed credit facility. The stable outlook reflects our expectation that relatively stable operating performance at its core Alabama properties
