Moody's ups Alliance Gaming

Moody's Investors Service said it raised the ratings of Alliance Gaming Corp. in response to the completed the sale of United Coin Machine Co. to Century Gaming Inc.

The outlook is stable.

Ratings upgraded include Alliance Gaming's $125 million senior secured revolving credit facility due 2008 to Ba3 from B1, $350 million senior secured term loan due 2009 to Ba3 from B1, the senior implied rating to Ba3 from B1, and the senior unsecured issuer rating to B1 from B2.

Consideration for the transaction consisted of about $100 million in cash and the assumption by Century of about $5 million in debt. Also considered was the company's improved financial profile and positive industry trends regarding the growth and development of gaming equipment and software products, Moody's said.

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