...- We believe Alabama-based PCI Gaming Authority's (d/b/a Wind Creek Hospitality) adjusted leverage will improve below our 3x downgrade threshold by the end of its fiscal 2021 (ending Sept. 30), after spiking above the threshold in fiscal 2020 due to the temporary closure of its properties because of the pandemic and their subsequent opening and ramp-up in operations. - We affirmed our ratings on PCI, including our '##+' issuer credit rating, and removed the ratings from CreditWatch, where we placed them with negative implications on March 20, 2020. - The negative outlook reflects our forecast for adjusted leverage to remain elevated above our 3x leverage downgrade threshold for PCI through the first half of fiscal 2021, since we expect PCI's properties will continue to operate with capacity restrictions, and visitation and spending may be inhibited by prolonged high unemployment....
