Moody's: No change to Great Canadian Gaming

Moody's Investors Service said there are no changes to Great Canadian Gaming's ratings and outlook following the company's announcement that it has increased its offering of C$400 million senior unsecured notes due 2022 by C$50 million to C$450 million.

The corporate family rating remains Ba3 with a stable outlook and all instrument ratings, including the B1 rating on the senior unsecured notes, remain unchanged.

The agency said the increase in the size of the issue is slightly credit negative because of the incremental debt taken on by the company, but it will have only a minimal impact on overall credit metrics.

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