S&P: Sugarhouse view positive

Standard & Poor's said it revised its outlook on Sugarhouse HSP Gaming Prop. Mezz LP to positive from negative and affirmed the B- corporate credit rating on the company.

The agency said it also affirmed its B- issue-level rating on the company's senior secured notes, with a recovery rating of 3.

"Our outlook revision reflects solid operating metrics during the casino's ramp up period since opening in September 2010," said S&P ratings analyst Jennifer Pepper in a news release.

"An upgrade would be hinged on further clarity on the size and timing of the company's expansion plans and details around the financing plans," said Pepper.

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