3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Within MODEST YIELD WITH SAFETY, we recommend CCM Merger International Game Technology Gaming & Leisure Properties, MGM Resorts International. and MGM Growth Properties. Exhibit 2: Modest Yield With Safe

h this report we are maintaining our Buy rating on MOTOR 6.0% Senior Unsecured Notes due 2022 ($102.5, 5.2% YTW. 300bps STW). For 2017, we project CCM Merger to generate Adjusted EBITDA of $130.0 million (+8.8% versus $119.5 million). Factoring in interest expense of $32.0 million, capital expenditures o