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S&P ups Great Canadian Gaming
Standard & Poor's said it raised Great Canadian Gaming Corp.'s corporate credit rating by one notch to BB+ from BB.
The outlook is stable.
The upgrade reflects improvement in the company's cash flow generation through its cost-control initiatives despite a challenging revenue environment, S&P said.
The company's financial profile improved as the company has used cash flow to repay C$48 million of borrowings on its revolver since the first quarter of 2009, the agency said.
Furthermore, the agency said it expects that this improvement to the company's financial profile will be sustainable.
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