Summary: Golden Nugget LLC Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services' 'B' corporate credit rating on Atlantic City-based Golden Nugget LLC reflects our assessment of the company's financial risk profile as "highly leveraged" and our assessment of the company's business risk profile as "vulnerable", according to our criteria. Our assessment of Golden Nugget's financial risk profile as "highly leveraged" reflects the risks associated with turning around an underperforming asset in a gaming market facing intense competitive pressure and currently weak credit measures. Our view that management's planned investments in the property will generate a sufficient return on investment to meet our estimate of fixed charges only partially offsets these negative rating factors. Our assessment of Golden Nugget's business risk profile as "vulnerable" reflects its reliance on...
Companies mentioned in this report are: Golden Nugget LLC
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Golden Nugget LLC
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