Station Casinos misses bond interest payment-analyst

Tue Feb 3, 2009 6:08pm EST
 
[-] Text [+]

NEW YORK, Feb 3 (Reuters) - Station Casinos has failed to make an interest payment on its debt, a possible sign that the company may be considering a bankruptcy filing, research firm KDP Investment Advisor said on Tuesday.

A spokesperson for Station Casinos declined immediate comment.

"We were not surprised by this given that the company failed to received amendments to its bank agreement and failed to achieve a below par exchange with resistant bondholders," KDP analyst Barbara Cappaert said in a report.

"While it is likely that the company will seek to negotiate some sort of restructuring, it is also very possible that a restructuring may be easier to achieve in bankruptcy particularly given the bank agreement violations," she said.

(Reporting by Karen Brettell;)

 

Featured Broker sponsored link