We have concluded that recent governance issues at the Seminole Tribe of Florida do not impact our assessment of the credit quality of its Seminole Hard Rock affiliates. We are affirming our 'BB' issuer credit and issue-level ratings on Seminole Hard Rock Entertainment Inc. and Seminole Hard Rock International LLC, and removing the ratings from CreditWatch. The stable rating outlook reflects our expectation that Seminole Hard Rock's operating lease-adjusted debt to EBITDA will improve to closer to 6x over the intermediate term through continued earnings growth and sustained profitability improvement. On Dec. 14, 2010, Standard&Poor's Ratings Services affirmed its ratings on Seminole Hard Rock Entertainment Inc. and Seminole Hard Rock International LLC, and removed the ratings from CreditWatch,
