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Moody's May Raise Hollywood Casino Corp.'s Ratings27 January 2003NEW YORK, -- As reported by Reuters: "Moody's Investors Service placed the ratings of Hollywood Casino Corporation (HCC) on review for possible upgrade based on the expectation that the acquisition of HCC by Penn National Gaming, Inc. will occur, and that the HCC notes will be refinanced. "The following HCC ratings were affected: - $310 million 11.25% senior secured notes due 2007 - B3 - $50 million floating rate senior secured notes due 2006 - B3 - Senior implied rating - B3 - Long-term senior unsecured issuer rating - Caa1 In August 2002, Penn National entered into a definitive agreement to acquire HCC…" |