Yesterday we erroneously published a comment as part of our Leisure Letter, that read in part “MGM may have difficulty fulfilling its debt obligations and staying compliant with its covenants in 2016.” This is a misstatement of our position. In fact, we believe that MGM should not have difficulty fulfilling its debt obligations, and that it should be able to remain compliant with its covenants in 2016. We regret any confusion this may have caused. Please feel free to contact us for further clarification.
