Hollywood, Fla.–based Seminole Hard Rock Entertainment Inc. plans to issue a $240 million term loan. The company will use the proceeds, along with a planned senior notes issuance, primarily to repay existing debt. We are assigning the proposed term loan our 'BBB-' issue-level rating, with a recovery rating of '1'. The stable rating outlook reflects our expectation that leverage will gradually improve as a result of continued earnings growth but remain above 6x over the intermediate term. NEW YORK (Standard&Poor's) April 30, 2013--Standard&Poor's Ratings Services today affirmed all ratings on Seminole Hard Rock Entertainment Inc. and Seminole Hard Rock International LLC (collectively, Seminole Hard Rock), including our 'BB' issuer credit rating. The rating outlook is stable.
