Las Vegas GO Rating Outlook Revised To Negative On Threat To Reserves

CENTENNIAL (S&P Global Ratings) March 26, 2020--S&P Global Ratings revised the outlook to negative from positive and affirmed its 'AA' long-term rating on Las Vegas' GO debt outstanding.
"The outlook revision reflects our anticipation that there is at least a one-in-three chance that economic conditions will worsen to a degree that affects the city's reserve position at the current rating," said S&P Global Ratings credit analyst Michael Parker.
"The outlook revision further reflects our view of the recent global spread of COVID-19 (the disease caused by a novel coronavirus), which has provided some national economic and credit uncertainty, especially for issuers largely reliant on tourism and consumer discretionary spending," Mr. Parker added.
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