S&P ups Chumash view to positive

Standard & Poor's said it revised its outlook on Chumash Casino & Resort Enterprise (CCRE) to positive from stable.

At the same time, S&P said it affirmed its BB issuer credit and senior unsecured debt ratings on the CCRE.

The outlook revision reflects the agency's assessment that operating results at the CCRE's Chumash Casino continue to be good, resulting in credit measures that are at a level that is strong for the rating, the agency noted.

S&P added the ratings on CCRE reflect the continued solid performance of the Chumash Casino, its good quality, limited competition in its surrounding area and strong credit measures for the rating. Still, the CCRE is reliant upon a single asset.

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