MGM Mirage (MGM) Asks To Extend $5.5 Billion Debt 3 Years

MGM Mirage (NYSE: MGM) made a proposal to lenders, asking to push back $5.55 billion of its debt by 3 years.

The proposal seeks to extend facilities from October 3, 2011 to February 21, 2014. The casino operator asked its lenders to approve the deal by February 24.

Moody's Investor Services said that it is considering upgrading its MGM Mirage because of the proposal.