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S&P May Cut Pinnacle Rating

NEW YORK – As reported by the Reuters: "Standard & Poor's on Monday said it may cut its rating on casino operator Pinnacle Entertainment Inc., saying its acquisition of Aztar Corp. could result in significantly higher debt.

"Pinnacle, which operates casinos in smaller markets, on Monday said it would buy Tropicana owner Aztar for about $1.45 billion in cash, extending its reach into Las Vegas and Atlantic City.

"…If Pinnacle is downgraded, it will likely be limited to one notch, the rating agency said. S&P rates Pinnacle 'B-plus,' four steps below investment grade…"

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