TEXT-Fitch rates Caesars' proposed notes 'CCC+/RR3'
Posted on December 05, 2012 at 14:45 PM EST
Dec 5 - Fitch Ratings assigns a 'CCC+/RR3' rating to Caesars Entertainment Operating Company, Inc.'s (OpCo; CEOC) $300 million proposed add-on issuance to the 9% senior secured notes due 2020. Fitch also downgrades OpCo's senior secured credit facility and outstanding senior secured notes to 'CCC+/RR3' from 'B-/RR2. Fitch also affirms the Issuer Default Ratings (IDRs) of CEOC and related issuers (full list of rating actions follows at the end of this release). The Rating Outlook is Negative. Ab