U.S. gaming company Cannery Casino Resorts has outperformed our performance expectations in recent periods. We are affirming our 'B-' corporate credit rating on the company and revising our rating outlook to stable from negative. The stable rating outlook reflects our expectation for continued growth in EBITDA, sufficient covenant cushion to meet step-downs, and the ability to successfully address its 2012 revolver maturity. NEW YORK (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services today revised its rating outlook on Las Vegas-based Cannery Casino Resorts LLC to stable from negative. We also affirmed our 'B-' corporate credit rating and all issue-level ratings on the company. "Our outlook revision to stable reflects Cannery's outperformance relative to our expectations in recent periods,"...
Companies mentioned in this report are: Cannery Casino Resorts LLC
Action: Outlook: Stable
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Research type: News
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