S&P: Affinity to positive

Standard & Poor's said it revised the outlook on Affinity Gaming LLC to positive from stable.

The agency also said it affirmed its B corporate credit rating, along with the B+ rating and 2 recovery rating on its $350 million first-lien senior secured term loan.

The 2 recovery rating reflects 70% to 90% expected recovery in a default.

The outlook revision reflects the potential for meaningful deleveraging and an improved business risk profile upon the completion of Affinity's recently announced planned asset sale and asset-purchase transactions, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.