Moody’s may boost LV company’s credit ratings

Thursday, April 13, 2000 | 11:02 a.m.

Moody's Investors Service said it may raise the credit rating of Station Casinos Inc., following the company's strong earnings over the first three months of 2000.

Moody's changed Station's ratings outlook from stable to positive, the first step in raising a company's credit rating. The agency said an upgrade will occur "should the company continue to demonstrate a track record of operating with moderate leverage given its multiple development opportunities and recent share repurchase activity."

In its report, Moody's cited continued improvement in the operating results of the company's operations in Las Vegas and Missouri, stronger credit measures, and the expectation that future projects will rely on free cash flow, rather than additional debt. Moody's also cited lower debt-to-cash flow levels.

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