12/17/99 Cap. Mkt. Rep. 16:39:00
Capital Markets Report
Copyright (c) 1999, Dow Jones & Company, Inc.
Friday, December 17, 1999
Argosy Gaming's Corp Credit Boosted To BB- From B+: S&P
NEW YORK -(Dow Jones)- Standard & Poor's Friday raised its corporate credit,
senior secured debt, and bank loan ratings for Argosy Gaming Co. (AGY) to
double-'B'-minus from single-'B'-plus. The rating on the company's subordinated
debt was raised to single-'B' from single-'B'-minus.
The current rating outlook is stable, said S&P.
"The upgrade reflects continued strong results from Argosy's Lawrenceburg,
Ind. property, better-than-expected results at the company's other four casino
properties, and increased financial flexibility," said S&P.
"Argosy's improved financial position gives it the flexibility to pursue a
purchase of the Lawrenceburg minority interest if it becomes available, without
affecting the ratings," said the ratings agency.
---- INDEX REFERENCES ----
COMPANY (TICKER): Argosy Gaming Co. (AGY)
NEWS SUBJECT: Dow Jones Capital Markets Report; Dow Jones News Wires;
Corporate Bonds; Bond & Stock Ratings; Bond News; High-Yield
Issuers (CMR DJWI COB RTG BON HIY)
MARKET SECTOR: Consumer Cyclical; Newswire More Code; Newswire End Code
(CYC MMR NND)
INDUSTRY: Casinos & Gambling; All Entertainment & Leisure (CNO ENT)
PRODUCT: Analysts' Ratings/Comments; Leisure (DAR DLE)
REGION: Illinois; North America; United States; Central U.S. (IL NME
US USC)
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