Fitch Ratings Restores Sands Credit Rating to IG Status

With an investment grade credit rating, Las Vegas Sands (LVS) is looking strong according to Fitch Ratings. The credit research firm is citing the rebound in Macau, as well as the strength of Singapore, which are the operating markets for Sands. Investment firms are expecting leverage and capital improvements from this investment grade corporation. The company is also noted for maintaining strong positive cash flow generation and liquidity levels. Being the largest operator in the region, Sands China seems to be making a comeback with its stability and investments. The company is also capable of funding big projects including new developments in New York without substantially impacting its balance sheet. Sands will have to tackle China’s potential weaknesses, regulatory shifts, and the Macau market’s increasing competition. With regards to the balance sheet, LVS concluded the last quarter of 2023 with a total of $5.11 billion in cash and access to 4.44 billion on a revolving credit facility. This has encouraged investors, as Sands’ profit potential is high and its credit profile inspiring. The rebound in metrics in Macau and Singapore suggest that there is more scope for growth in the future. Keeping this in mind, LVS seems in an excellent position for continued growth.

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