February 12, 2011 - 2:07 am
Moody’s Investors Service raised its rating views of the debt for Las Vegas Sands Corp.
Moody’s said the outlook for the company was “stable.”
The investors service raised its opinion of Las Vegas Sands’ debt to Ba3 from B1, because of the company’s fourth-quarter results and an expectation the positive trends will continue.
Moody’s Senior Vice President Keith Foley said in a statement the ratings service thought the company would apply its free cash flow and significant cash balances toward reducing outstanding debt.
As of Dec. 31, Las Vegas Sands has total debt outstanding of $10.14 billion. The company’s scheduled principal payments required in 2011 total $767.1 million.