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S&P Credit Research20867 word report
published Jul 02, 2009
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S&P Credit Research
| Abstract: | The U.S. gaming industry continues to be affected by the ongoing economic downturn, and while the worst of the year-over-year gaming revenue declines appear to be over for many of the riverboat markets, the country's largest gaming markets, Las Vegas and Atlantic City, continue to experience significant difficulties. Still, ratings are gradually stabilizing, as we believe that the future operating assumptions underlying our gaming company ratings are sufficiently conservative to limit significant further downside pressure on ratings. This is not to say there will not be any additional downgrades, as there are many company-specific issues that we are monitoring, including potential covenant violations and near-term refinancing risk. In the first six months of 2009, we lowered our ratings on seven
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| Brief Excerpt: | RESEARCH Ratings Definitions Industry Report Card: Times Are Still Tough For U.S. Gaming, Lodging, And Leisure Companies, But Credit Quality May Be Turning A Corner Publication date: 02-Jul-2009 Primary Credit Analyst: Craig Parmelee,...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
