Friday, June 15, 2007

S&P cuts Penn National rating to BB-minus

(Reuters) - S&P cut Penn's rating to "BB-minus," or three levels below
investment grade, from "BB." The rating company also placed
Penn's ratings on watch for further cuts.




The rating "could be lowered further into the 'B' category
once more definitive financing plans are disclosed and we have
the opportunity to assess the pro forma capital structure," S&P
analyst Craig Parmelee said in a report.


Read more at Reuters.com Bonds News

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