Moody's: Riviera view stable

Moody's Investors Service said it affirmed Riviera Holding Corp.'s B2 corporate family and probability-of-default ratings, $225 million term loan and $20 million revolving credit at B2 (LGD3, 49%) and changed the outlook to stable from negative.

The affirmation and outlook reflect the company's announcement that it completed its formal strategic review process, according to the agency.

Ratings reflect above-average leverage relative to its small scale and limited property diversification, the agency said.

Ratings also consider the location of the company's largest property in the favorable regulatory jurisdiction of Nevada and its attractive location on the Las Vegas strip, Moody's said.

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