S&P upgrades Cowlitz Tribal Gaming

S&P said it raised its issuer credit ratings on Cowlitz Tribal Gaming Authority to B+ from B. The outlook is stable.

At the same time, S&P raised its ratings on CTGA's senior secured debt, consisting of a $90 million revolving credit facility and $343 million term loan B, to B+ from B.

“The upgrade to B+ reflects our forecast for a sustained successful ramp-up of operations at the ilani Casino, which has exceeded our previous EBITDA forecast since its opening in April 2017,” S&P said in a news release.

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