Spain-based gaming company Codere did not make the interest payment on its €760 million senior secured notes, which was due on Jan. 15, 2014. We are lowering our corporate credit rating on the company to 'D' from 'SD'. We are also lowering our rating on the $300 million notes to 'D' and affirming our 'D' rating on the €760 million notes. The recovery rating on these notes remains unchanged at '4'. MADRID (Standard&Poor's) Jan. 16, 2014--Standard&Poor's Ratings Services said today it had lowered to 'D' (default) from 'SD' (selective default) its long-term corporate credit rating on Spain-based gaming company Codere S.A. At the same time, we lowered our issue rating on the $300 million senior notes
