EBITDA coming in below
expectations.
MGM Growth Properties. We continue to believe that MGP will continue to
utilize its premium valuation, ample liquidity, and low-cost debt to complete
leverage ... neutral acquisitions. While we expect MGP to engage in transactions
with additional tenants besides MGM, we believe the most immediate
opportunity for the company is to acquire joint venture properties ... simple avenue for growth. At this juncture,
we are reaffirming our Buy rating on MGP's 5.625% Senior Unsecured Notes
2024 ($107.2, 4.3% Y7VV, 191bps STW) and MGP
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01385361.pdf