EFTA Document EFTA01385368

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite the Palms. While we believe that the investment at the Palms could generate an attractive ROI, we believe that the ramp of the property will be slow and the overall investment quite high. With this report, we are reaffirming our buy rating on Red Rock Resorts 5.0% Senior Unsecured Notes 2025 ($100.2, 5.0%YlVV, 279bps STW) with a Buy rating given our belief that these bonds offer investors an attractive total retu