Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative - S&P Global Ratings’ Credit Research

Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative

Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative - S&P Global Ratings’ Credit Research
Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative
Published Mar 21, 2008
Published Mar 21, 2008
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About This Report

  
Abstract:

On March 21, 2008, Standard&Poor's Ratings Services lowered its ratings on UTGR Inc.; the corporate credit rating was lowered to 'CCC-' from 'B-'. The ratings remain on CreditWatch, where they were placed March 4, 2008 with negative implications. The downgrade reflects our ongoing concerns about a potential bankruptcy filing as the company reportedly continues to negotiate a forbearance agreement with its lenders. While we believe that incentives exist for the company and its lenders to reach an extended agreement, the new ratings better reflect the near-term risk factors for a potential bankruptcy filing if the parties are not able to come to an agreement. In resolving the CreditWatch listing, we will assess the terms of any agreement that

  
Report Type:

Research Update

Issuer
UTGR Inc.
GICS
Casinos & Gaming (25301010)
Sector
Corporations, Global Issuers, Hotel & Gaming, Media & Entertainment
Country
Region
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative" Mar 21, 2008. Alacra Store. Sep 22, 2017. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-UTGR-Inc-Rating-Lowered-To-CCC-Still-On-CreditWatch-Negative-637997>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: UTGR Inc. Rating Lowered To 'CCC-'; Still On CreditWatch Negative Mar 21, 2008. New York, NY: Alacra Store. Retrieved Sep 22, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-UTGR-Inc-Rating-Lowered-To-CCC-Still-On-CreditWatch-Negative-637997>
  
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