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Cannery Casino Resorts LLC Outlook Revised To Stable From Negative; 'B-' Corporate Credit Rating Affirmed May 11 Product Image

Cannery Casino Resorts LLC Outlook Revised To Stable From Negative; 'B-' Corporate Credit Rating Affirmed May 11

  • ID: 1807879
  • May 2011
  • Standard & Poors

Abstract
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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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