S&P ups Sugarhouse HSP

S&P said it raised its ratings for Sugarhouse HSP Gaming Prop. Mezz. LP to B from B-.

“Notwithstanding our forecast for a modest decline in EBITDA in 2022, we believe Sugarhouse will maintain EBITDA at a level that sustains adjusted leverage below 6x and interest coverage above 2x. We believe these adjusted measures are aligned with a one-notch higher rating for Sugarhouse,” S&P said in a press release.

The outlook is stable.

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