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December 2, 2009

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S&P may raise credit ratings

Tuesday, Feb. 5, 2002 | 11:07 a.m.

Standard & Poor's raised its outlook on Alliance Gaming Corp. to "positive," raising the possibility the Las Vegas gaming company could see its credit ratings raised by S&P.

Alliance currently carries a "B-plus" corporate credit rating and a "B-minus" subordinated debt rating. Both are mid-level "junk" ratings. But Alliance's ratings may be raised "in the intermediate term," S&P said.

"The outlook revision reflects Alliance's steadily improving credit measures stemming from better operating performance ...," S&P analyst Craig Parmelee wrote. "The ratings could be raised ... if the company demonstrates the sustainability of current credit measures through steady operating performance and a prudent investment strategy."

Stronger credit ratings can make it easier for a company to borrow money, and can also result in lower interest rates.

Alliance's main business is Bally Gaming & Systems, its slot machine manufacturing arm. The company also owns slot routes in Nevada and Louisiana, casinos in Nevada and Mississippi, and a gaming machine division in Germany.

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