S&P ups American Casino

Standard & Poor's said it raised its ratings on American Casino & Entertainment Properties LLC, including its corporate credit and senior secured ratings to B+ from B.

The outlook is stable.

S&P said the upgrade reflects the company's continued solid operating performance and modest debt leverage, providing a cushion within the rating in the event of a downturn in the Las Vegas market or for an increase in capital expenditures.

The ratings on American Casino reflect a portfolio of second-tier assets, the disadvantaged location on the Las Vegas Strip of its largest cash flow generating property, reliance on a single market, and a relatively small cash flow base, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.