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Fitch upgrades Las Vegas Sands’ rating citing strong performance in Singapore
Fitch Ratings Inc. has upgraded Las Vegas Sands Corp.’s issuer default ratings to ‘BBB’ with a stable outlook, citing improved credit metrics and strong performance, particularly from its Marina Bay Sands complex in Singapore. The upgrade reflects Singapore’s robust EBITDA growth, which offset a weaker-than-expected rebound in the Macau market. Despite challenges in Macau, Fitch anticipates Las Vegas Sands will maintain market share and improve margins, given its asset base and commitment to investment-grade financial management.