Moody's ups Riverside

Moody's Investors Service said it upgraded Riverside Casino & Golf Resort, LLC's corporate family rating to B2 from B3, probability-of-default rating to B3 from Caa1 and senior secured bank term loan revolving credit facilities to B2 (LGD3, 35%) from B3 (LGD3, 35%).

The outlook is stable.

Moody's said the upgrade reflects Riverside's better-than-expected operating results since opening in August 2006. The issuer's year-end debt-to-EBITDA ratio is expected to be about 3.9 times, the agency said.

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