LVS sale of Nevada assets a “slight credit negative”: Fitch

Las Vegas Sands’ sale of its Nevada properties for $6.25 billion is a “slight credit negative,” Fitch Ratings said in a note.

The sale gives the operator more liquidity and improves its overall leverage. However it also takes away an additional source of cash flow and marginally reduces the group’s diversification.

“It also raises some uncertainty about the ultimate use of proceeds,” it said.