S&P: Riviera Holdings on developing watch

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

The CreditWatch listing follows the company's announcement that it has resumed previously initiated discussions with a certain investor group regarding its possible acquisition of Riviera at a price of $17.00 per share, the agency said.

S&P noted that there continues to be questions about Riviera's long-term operating strategy given its pursuit of strategic alternatives in 2005.

© 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.