S&P affirms Gaming & Leisure

S&P said it affirmed its ratings, including its BB+ corporate credit rating, on Gaming & Leisure Properties Inc.

The outlook is stable.

At the same time, the agency removed the under criteria observation designation from all the ratings.

S&P placed the ratings under criteria observation on Feb. 26, following the publication of its revised criteria for rating global real estate companies.

“The affirmation reflects our continued expectation that GLPI will sustain adjusted leverage at about 5x, even factoring in acquisitions,” the agency said in a news release.

“We believe this level of adjusted leverage is aligned with the company's financial policy and provides a good cushion relative to our revised 6x downgrade threshold.”

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