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Ameristar Casinos' Rating Raised

NEW YORK – (PRESS RELEASE) -- Standard & Poor's Ratings Services raised its ratings on Ameristar Casinos Inc., including its corporate credit rating to 'BB' from 'BB-'.

The outlook is stable. The Las Vegas, Nev.-based casino owner and operator has $766 million in debt.

"The upgrade reflects Ameristar's continued solid operating performance, modest debt leverage, and the expectation that the company will continue to improve its credit measures in 2005, providing a cushion within the rating to accomplish its growth objectives," said Standard & Poor's credit analyst Peggy Hwan.

The ratings on Ameristar reflect the company's active growth strategy, tempered by the company's leading competitive positions in its markets, a somewhat geographically diverse portfolio of casino assets, and good credit measures for the rating.

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