Gaming and Leisure Properties (GLPI) Tops Q4 EPS by 3c

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Go back to Gaming and Leisure Properties (GLPI) Tops Q4 EPS by 3c

S&P Downgrades Gaming and Leisure Properties (GLPI) to 'BB'; Outlook Stable

February 8, 2016 12:38 PM EST

Standard & Poor's Ratings Services today said it lowered its corporate credit rating on Gaming & Leisure Properties Inc. (Nasdaq: GLPI) to 'BB' from 'BB+' and removed the rating from CreditWatch, where we had placed it with negative implications on March 10, 2015. The outlook is stable.

At the same time, we lowered our issue-level ratings on GLPI's unsecured debt by one notch to 'BB+' from 'BBB-' and removed them from CreditWatch The recovery rating remains '2', reflecting our expectation for substantial recovery (70% to 90%; lower half of the range) for lenders... More