VICI Properties Inc. Announces Credit Rating Upgrade by Moody’s to Baa3 With Stable Outlook
VICI Properties (NYSE: VICI) announced that Moody's Investors Service upgraded its issuer credit rating for VICI Properties L.P. to 'Baa3' from 'Ba1', with a stable outlook. This upgrade establishes VICI's investment grade status across all three rating agencies. The company's CFO, David Kieske, highlighted that this achievement reflects VICI's strong credit profile and strategic approach to transformational transactions. Moody's cited VICI's dominant size and scale, resilient operating cash flow, good liquidity, and disciplined financial policy as key factors in their decision.
VICI Properties (NYSE: VICI) ha annunciato che Moody's Investors Service ha aggiornato il suo rating di credito emittente per VICI Properties L.P. a 'Baa3' da 'Ba1', con un outlook stabile. Questo aggiornamento stabilisce lo status di investimento di VICI presso tutte e tre le agenzie di rating. Il CFO dell'azienda, David Kieske, ha sottolineato che questo risultato riflette il forte profilo creditizio di VICI e l'approccio strategico alle transazioni trasformative. Moody's ha citato le dimensioni e la scala dominanti di VICI, i flussi di cassa operativi resilienti, la buona liquidità e una politica finanziaria disciplinata come fattori chiave nella loro decisione.
VICI Properties (NYSE: VICI) anunció que Moody's Investors Service mejoró su calificación de crédito emisor para VICI Properties L.P. a 'Baa3' desde 'Ba1', con una perspectiva estable. Esta mejora establece el estatus de grado de inversión de VICI en las tres agencias de calificación. El CFO de la compañía, David Kieske, destacó que este logro refleja el sólido perfil crediticio de VICI y su enfoque estratégico hacia transacciones transformadoras. Moody's citó el tamaño y la escala dominantes de VICI, un flujo de caja operativo resistente, buena liquidez y una política financiera disciplinada como factores clave en su decisión.
VICI Properties (NYSE: VICI)는 Moody's Investors Service가 VICI Properties L.P.의 발행자 신용 등급을 'Ba1'에서 'Baa3'로 상향 조정했으며, 안정적인 전망을 제시했다고 발표했습니다. 이 업그레이드는 VICI가 세 개의 신용 평가 기관 모두에서 투자 등급을 확보했음을 보여줍니다. 회사 재무책임자인 David Kieske는 이 성과가 VICI의 강력한 신용 프로필과 변혁적 거래에 대한 전략적 접근을 반영한다고 강조했습니다. Moody's는 VICI의 압도적인 규모와 비율, 견고한 운영 현금 흐름, 양호한 유동성, 그리고 절제된 재무 정책을 그들의 결정의 주요 요인으로 언급했습니다.
VICI Properties (NYSE: VICI) a annoncé que Moody's Investors Service a augmenté sa note de crédit émetteur pour VICI Properties L.P. à 'Baa3' contre 'Ba1', avec une perspective stable. Cette amélioration établit le statut d'investissement de VICI auprès des trois agences de notation. Le directeur financier de l'entreprise, David Kieske, a souligné que cette réalisation reflète le solide profil de crédit de VICI et son approche stratégique pour des transactions transformationnelles. Moody's a cité la taille et l'échelle dominantes de VICI, un flux de trésorerie opérationnel résilient, une bonne liquidité et une politique financière disciplinée comme facteurs clés de leur décision.
VICI Properties (NYSE: VICI) gab bekannt, dass Moody's Investors Service das Emittenten-Kreditrating für VICI Properties L.P. von 'Ba1' auf 'Baa3' mit einem stabilen Ausblick angehoben hat. Dieses Upgrade bestätigt VICI's Investment-Grade-Status bei allen drei Ratingagenturen. Der CFO des Unternehmens, David Kieske, hob hervor, dass dieser Erfolg das starke Kreditprofil von VICI und den strategischen Ansatz bei transformierenden Transaktionen widerspiegelt. Moody's nannte die dominierende Größe und Skalierung von VICI, resilienten operativen Cashflow, gute Liquidität und eine disziplinierte Finanzpolitik als Schlüsselfaktoren für ihre Entscheidung.
- Moody's credit rating upgrade to investment grade 'Baa3' from 'Ba1'
- Achievement of investment grade status across all three rating agencies
- Expected positive impact on cost of and access to capital
- None.
Insights
The credit rating upgrade to investment grade status by Moody's represents a significant milestone for VICI Properties, completing their investment-grade trifecta across major rating agencies. This upgrade will likely result in lower borrowing costs and broader access to debt markets, particularly important for a REIT focused on gaming and entertainment properties.
The stable outlook and Moody's emphasis on VICI's dominant market position, resilient cash flows and disciplined financial management suggests strong fundamentals. With a market cap of
The timing is particularly advantageous as higher interest rates have increased borrowing costs across the market. This upgrade provides VICI with enhanced financial flexibility and potentially better terms for future acquisitions or refinancing activities.
David Kieske, Chief Financial Officer of VICI Properties, said, “Today’s announcement reflects the strong credit profile VICI has worked tirelessly to build since the Company’s inception. We have used each transformational transaction along the way to improve our balance sheet and to best position ourselves for credit rating improvements. This rating upgrade solidifies our investment grade status across all three rating agencies, and we expect the upgrade to positively impact our cost of, and access to, capital.”
In its public announcement on the matter, Moody’s noted that “VICI's credit profile benefits from its dominant size and scale, resilient operating cash flow, good liquidity, and disciplined financial policy.”
About VICI Properties
VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” “will,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond VICI’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect VICI’s business, results of operations and financial position are detailed from time to time in VICI’s filings with the Securities and Exchange Commission. VICI does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241118305811/en/
Investor Contacts:
Investors@viciproperties.com
(646) 949-4631
Or
David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com
Moira McCloskey
SVP, Capital Markets
MMcCloskey@viciproperties.com
LinkedIn:
www.linkedin.com/company/vici-properties-inc
Source: VICI Properties Inc.
FAQ
What is VICI Properties' new Moody's credit rating in 2024?
How many rating agencies now give VICI Properties investment grade status?
What factors did Moody's cite for VICI Properties' credit rating upgrade?
