Saturday, September 4, 2010

Deterioration in MGM Resorts (MGM) Credit

MGM Resorts (MGM) debt that is further out on the curve (e.g. the 2014 and 2015 maturities) is trading once again at double-digit yields (around 13%). Those yields are up several hundred basis points in just a month.

As usual, credit investors are smarter than equity investors!

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