S&P: Riviera still developing

Standard & Poor's said the ratings on Riviera Holdings Corp., including its B corporate credit and senior secured debt ratings, remain on CreditWatch with developing implications.

The ratings were initially placed on CreditWatch on Feb. 16 following the company's announcement that it requested its financial adviser, Jefferies Co. Inc., to explore strategic alternatives to maximize shareholder value.

Developing implications suggest that ratings could be affected either positively or negatively, depending on whether a transaction ultimately occurs.

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