S&P: Resorts International cut to negative

Standard & Poor's said it revised its outlook on Resorts International Holdings LLC to negative from stable.

Concurrently, S&P affirmed its ratings on Resorts, including its B+ corporate credit rating and first-lien bank loan rating and B- second-lien bank loan rating.

S&P said the outlook revision follows disappointing first quarter performance for the period ended March 31 by the four properties that Resorts now owns.

While the properties were not acquired until April 26, S&P said the weak first quarter performance will now make it difficult for the company to achieve the improvement to credit measures that were previously expected.

© 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.