S&P's Station Casinos ratings unaffected

Standard & Poor's said its ratings on Station Casinos Inc. (BB/stable/B-2) are not affected by the company's announcement that it repurchased about $232 million of its common stock from Goldman Sachs & Co. in a private transaction in connection with an accelerated stock buyback program.

Despite the repurchase being funding through revolver borrowings, S&P said the company's credit measures, pro forma for the contribution from the soon-to-be opened Red Rock Station, are expected to remain in line with the ratings due to good operating momentum.

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