LONDON (Standard&Poor's) Jan. 26, 2012--Standard&Poor's Ratings Services said today that it assigned its 'B' issue rating to the proposed $250 million senior notes (the proposed or U.S. dollar notes) to be issued by Codere Finance (Luxembourg) S.A. (Codere Finance). Codere Finance is a fully-owned finance subsidiary of Spanish gaming company Codere S.A. (B/Stable--). The 'B' issue rating is in line with the corporate credit rating on parent company Codere. We also assigned a recovery rating of '3' to the proposed notes, indicating our expectation of meaningful (50%-70%) recovery in the event of a payment default. The issue and recovery ratings on the existing €760 million senior notes due 2015 (the euro notes), issued by Codere Finance,
