Moody's lifts Tropicana loan to B1

Moody's Investors Service said it upgraded Tropicana Entertainment Inc.'s corporate family rating to B1 and its probability of default rating to B1-PD.

The agency also upgraded the company's senior secured bank credit facility to B1.

The outlook is stable.

Moody's said the upgrade reflects the closing of the acquisition of Lumiere Place Casino, HoteLumiere and the Four Seasons Hotel St. Louis for an all-cash purchase price of $263.3 million on April 1 and operating results for the year ended Dec. 31 that met Moody's expectations.

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