S&P: Eldorado Resorts on watch

Standard & Poor's said it placed its ratings on Eldorado Resorts LLC, including its B+ issuer credit rating, on CreditWatch negative following the assessment that operating performance at the Eldorado Hotel & Casino for the first quarter ended March 31 was weaker than previously expected.

Also on watch are Eldorado's BB- senior secured bank loan rating and B+ senior unsecured debt rating.

In resolving the CreditWatch listing, S&P said it will review the trends in the Reno market and assess the intermediate-term implications to credit measures and the entity's liquidity position.

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