Majestic Star amends loan, changing interest coverage ratio

By Sara Rosenberg

New York, April 17 - The Majestic Star Casino LLC amended its credit facility, changing the interest coverage ratio to 1.8:1.0 from 1.85:1.0 for the 12 month period ended March 31, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, the definition of consolidated interest expense was modified to exclude interest expense related to the pushdown of the discount notes of Majestic Holdco LLC.

The amendment was completed on April 13.

Wells Fargo Foothill Inc. and General Electric Capital Corp. are the lead banks on the deal.

Majestic Star is a Las Vegas-based owner and operator of casino hotels.

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