trending Market Intelligence /marketintelligence/en/news-insights/trending/vP33m3xIc04786SCUYCRfQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

S&P affirms Pinnacle Entertainment rating

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

S&P affirms Pinnacle Entertainment rating

Standard & Poor's Ratings Services affirmed 's BB- corporatecredit rating, with anegative outlook.

The rating agency also assigned a BB+ issue-level rating anda 1 recovery rating to the company's proposed senior secured credit facility, comprisinga $400 million revolver due 2021, a $185 million term loan A due 2021 and a $350million term loan B due2022.

While S&P said March 30 that it expects a "very high"recovery for lenders in the event of default, the negative outlook reflects therating agency's belief that Pinnacle will continue to have weak leverage over thenext year relative to the 5.25x leverage threshold at which S&P would considerlowering the company's ratings.

S&P Ratings and S&PGlobal Market Intelligence are owned by McGraw Hill Financial Inc.