Codere Finance (Luxembourg) S.A., a finance subsidiary of Spanish and Latin American gaming company Codere, is proposing to issue, on a best-efforts basis, up to €100 million of second-ranking 8.25% senior notes due 2015 to repay amounts outstanding under its senior credit facilities and to fund liabilities arising from its recently announced agreements with Grupo Caliente in Mexico. Codere recently amended and extended its existing first-ranking senior credit facilities, increasing them from €100 million to €120 million. We are assigning an issue rating of 'B' and a recovery rating of '3' to the proposed notes issue. MADRID (Standard&Poor's) July 22, 2010--Standard&Poor's Ratings Services said today that it has assigned its 'B' long-term issue rating to the
