MGM Mirage spokesman Alan Feldman said the money would be used as “operating funds.” MGM Mirage has $4.5 billion in its revolving credit facility. In a filing with the Securities and Exchange Commission, the company said the borrowing was done “in light of the continuing instability in the capital markets and uncertain state of the global economy.” An announcement today that MGM Mirage (MGM) tapped into its revolving line of credit to borrow $842 million for general corporate purposes led three credit rating services to devalue the company’s bonds and sent the casino operator’s stock price to an all-time low.
