Industry Economic And Ratings Outlook: U.S. Gaming, Lodging, And Leisure Ratings Should Remain Relatively Stable, Given Our Slightly Positive Outlook For 2012 Jan 12
Standard & Poors, January 2012
Abstract
We expect most U.S. leisure companies we follow will maintain their current credit profiles in 2012, which is reflected in the fact that approximately two-thirds of our rating outlooks currently are stable. Despite many economists' belief that there remains high potential that the U.S. will fall into another recession, many U.S. leisure companies we follow raised new debt in the capital markets during the past year or so to address tight covenants or meet debt maturities. We believe this, along with our expectation for less new supply (casinos, hotels, cruise ships, etc.) to come online than in recent years, should enable most companies in the leisure sector to withstand a modest degree of economic volatility. Standard & Poor's base-case 2012...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Brunswick Corp.
- Host Hotels & Resorts Inc.
- Mattel Inc.
- Harley-Davidson Inc.
- Hasbro Inc.
- Carnival Corp.
- Royal Caribbean Cruises Ltd.
- MGM Resorts International
- ICON Health & Fitness Inc.
- AMF Bowling Worldwide Inc.
- FelCor Lodging Trust Inc.
- Wyndham Hotel Corp.
- Ryman Hospitality Properties Inc.
- Ameristar Casinos Inc.
- Genting Bhd.
- Town Sports International Inc.
- Penn National Gaming Inc.
- Six Flags Entertainment Corp.
- Choice Hotels International Inc.
- Starwood Hotels & Resorts Worldwide Inc.
- Vail Resorts Inc.
- Peninsula Gaming LLC
- Choctaw Resort Development Enterprise
- Affinity Gaming LLC
- Circus and Eldorado Joint Venture
- Marina District Development Co. LLC
- MTR Gaming Group Inc.
- Universal City Development Partners Ltd.
- Wynn Resorts Ltd.
- River Rock Entertainment Authority
- Golden Nugget Inc.
- NCL Corporation Ltd.
- Yonkers Racing Corp.
- Las Vegas Sands Corp.
- Hyatt Hotels Corp.
- Chukchansi Economic Development Authority
- Realogy Group LLC
- Cedar Fair L.P.
- Snoqualmie Entertainment Authority
- Cannery Casino Resorts LLC
- Downstream Development Authority
- FireKeepers Development Authority
- Interval Leisure Group Inc.
- Rivers Pittsburgh Borrower L.P
- SRAM LLC
- Diamond Resorts Parent LLC
- SeaWorld Parks & Entertainment Inc.
- Great Wolf Resorts Inc.
- Midwest Gaming Borrower LLC
- Gun Lake Tribal Gaming Authority
- Twin River Worldwide Holdings Inc.
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