Research Update: Chester Downs And Marina LLC's Secured Notes Rated 'B+' (Recovery Rating: 1) Mar 12
- Language: English
- Published: March 2012
U.S. gaming company Chester Downs and Marina, an indirect majority-owned subsidiary of Caesars Entertainment Corp. (CEC), issued $330 million in senior secured notes due 2020. We are assigning the notes our 'B+' issue-level rating, with a '1' recovery rating. The stable rating outlook reflects the link between Chester Downs and CEC, although we expect credit measures at Chester Downs to remain strong for the rating. NEW YORK (Standard & Poor's) March 8, 2012--Standard & Poor's Ratings Services said today that it assigned its 'B+' issue-level rating to Chester, Pa.-based Chester Downs and Marina's $330 million 9.25% senior secured notes due 2020, co-issued by Chester Downs Finance Corp. In addition, we assigned the notes a recovery rating of '1', indicating our...
Companies mentioned in this report are: Chester Downs and Marina LLC,Caesars Entertainment Corp.,Chester Downs Finance Corp.
Action: New Rating
Action: Outlook: Stable
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Research type: News
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Chester Downs and Marina LLC,Caesars Entertainment Corp.,Chester Downs Finance Corp.