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Sands Credit Rating Cut To Junk Bond Status
Experts Cite High Debt, Negative Revenue Trends
POSTED: 10:28 pm PST November 12,
2008
UPDATED: 10:37 pm PST November 12,
2008
LAS VEGAS -- An investor service has cut the Las Vegas Sands Corp.'s credit rating to junk bond status.Financial experts said the company's high debt load and negative gaming and revenue trends in Las Vegas are to blame.The Sands Corp., which owns the Venetian and the Palazzo, now plans to halt construction in Macau, Pennsylvania and Las Vegas.
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Previous Stories:
- November 10, 2008: Sands Receiving Funding
- November 7, 2008: Sands Gets New CFO
- November 6, 2008: Sands May Face Bankruptcy
- November 3, 2008: Analyst Keeps Sands As Top Stock Pick
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