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Article: Fitch Ratings Upgrades Bally Technologies
- Article from:
- Wireless News
- Article date:
- July 25, 2008
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Wireless News
07-25-2008
Fitch Ratings Upgrades Bally Technologies
WIRELESS NEWS-July 25, 2008-Fitch Ratings Upgrades Bally Technologies (C)2008 10Meters - http://www.10meters.com
Fitch Ratings has upgraded Bally Technologies, Inc.'s (Bally's) Issuer Default Rating (IDR) and senior secured bank debt ratings as follows:
According to Fitch the rating has gone from IDR to 'BB-' from 'B'; and secured bank credit facilities to 'BB+' from 'BB/RR1'.
The secured credit facilities are comprised of a term loan with $290 million outstanding as of March 31, and a $75 million revolver.
The ratings firm noted the following details:
The two-notch IDR upgrade and Bally's credit profile continues to ...
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