S&P may lower Circus and Eldorado

Standard & Poor's said it placed its ratings on Circus and Eldorado Joint Venture, including its B+ issuer credit rating and B+ senior secured debt rating, on CreditWatch with negative implications.

The move follows the release of the entity's first-quarter operating performance, where EBITDA declined 43% year over year to $4.7 million for the period ended March 31, 2005.

In resolving the CreditWatch listing, S&P said it will review the trends in the Reno, Nev., market and assess the implications to credit measures and the entity's liquidity position. S&P has determined that if a downgrade were to occur, it would be limited to one notch.

© 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.