Brief: Alliance Gaming debt ratings cut

The downgrades, expected since Alliance was put on credit watch last month, reflect weak operating results for the six months ended last Dec. 31 in the company's Bally Gaming and Bally Wulff units, and deteriorating credit measures, S&P said.

Delays in new shipments and regulatory approvals have hurt Bally Gaming, though Alliance said new orders and shipments have increased in the current quarter.

S&P said though competition is increasing in the slot-machine business, the Alliance outlook is stable. Alliance stock closed at $6.125 Thursday, down 12.5 cents.

archive