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S&P ups Bally Technologies to BB+ on improved cash flow

Nov 04, 2009 (M2 EQUITYBITES via COMTEX) --

Company: Bally Technologies Inc (BYI)

2 November 2009 - S&P on Friday lifted by one step to BB+ its corporate and issue-level ratings on Las Vegas-based gaming equipment maker Bally Technologies Inc (NYSE:BYI).

The outlook is "stable".

The analysts attributed the upgrade to the stronger cash flow generation and continued improvement in the company's operating results in the face of the tough economy.

In addition, Bally enhanced its financial profile using cash flow to repay debt, with this positive trend set to continue, according to the rating service.

Still, Bally's speculative-grade rating of BB+ mirrors its product sales volatility, the presence of a much larger competitor and the gloomy prospects for the US gaming industry. These concerns are partially assuaged by the company's position as North American second largest gaming equipment player and strong debt-protection measures within its rating category. 

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Company: Bally Technologies Inc (BYI)


Related terms: corporate, debt, economy, nyse, S&P, technology

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