Moody's: Copa Casino outlook positive

Moody's Investors Service said it changed the outlook of Copa Casino of Mississippi, LLC to positive from stable.

The agency affirmed the issuer's corporate family rating at B3 and bank facility ratings of B3 (LGD3, 34%).

The outlook change reflects the successful opening of the Island View Casino Resort last September and the casino expansion in May, and operating performance that exceeded Moody's expectations, the agency said. Moody's said that the expected debt-to-EBITDA ratio for this year is between 4.5 times and 5 times.

Upward rating action will depend on completion of the parking garage and other construction, operating performance at or above current levels, the company's ability to absorb the opening of Hard Rock Biloxi in July without materially affecting its operating performance and the scope and timing of any expansion plans.

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