S&P: Chumash outlook positive

Standard & Poor's revised its outlook on the Chumash Casino & Resort Enterprise to positive from stable and affirmed its BB- corporate credit and senior unsecured debt ratings.

The outlook revision reflects S&P's assessment that operating results continue to be solid, resulting in good credit measures for the rating. S&P expects this trend to continue in the near term.

S&P said the ratings reflect Chumash's reliance on a single asset, moderate-size cash flow base and challenges faced in managing a larger facility. These factors are mitigated by the company's steady historical operating performance, the limited competitive situation in its surrounding market and the potential for EBITDA growth following the completion of its expansion project.

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