Boyd is part of that trend<\/a>. On the back of surging free cash flow, the operator has $519 million in unrestricted cash at the end of last year.<\/p>\n\u201cThe stable outlook considers the recovery in the company’s business and margin improvement exhibited in Q3 and Q4 2020, and the expectation for continued sequential improvement in 2021,\u201d according to Moody’s. \u201cThe stable outlook also incorporates the company’s good liquidity and the expectation for leverage to continue to come down from current levels as the business continues to recover and debt is reduced.\u201d<\/p>\n
The research firm said Boyd’s credit rating could be upgraded if the gaming company can maintain a debt-to-earnings before taxes, depreciation and amortization (EBITDA) ratio below 5.25x.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boyd Gaming (NYSE:BYD) is selling $900 million worth of corporate debt. It’s the latest sign gaming companies are easily able to access capital in the wake of the coronavirus pandemic. Generally, debt sales by companies in any industry aren’t remarkable — it’s an everyday occurrence — but in the case of Boyd’s bond offering, it’s […]<\/p>\n","protected":false},"author":46,"featured_media":174776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Boyd Selling $900 Million in Bonds Amid Strong Demand for Casino Debt<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n