S&P cuts 155 East Tropicana

Standard & Poor's said it lowered its ratings on 155 East Tropicana LLC.

S&P added that the corporate credit rating was lowered to CCC+ from B- while the ratings remain on CreditWatch with developing implications, as the potential for a sale of the company remains.

The rating downgrade follows a continuation of weak operating results and our concern that the company will be challenged to meet its obligations if the acquisition by Hedwigs Las Vegas Top Tier LLC fails to close, the agency said.

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