Fitch Upgrades Bally Technologies' IDR to 'BB-'; Bank Debt to 'BB+'; Outlook Remains Positive...

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has upgraded Bally Technologies, Inc.'s (Bally's) Issuer Default Rating (IDR) and senior secured bank debt ratings as follows: --Secured bank credit facilities to 'BB+' from 'BB/RR1'. The secured credit facilities are comprised of a term loan with $290 million outstanding as of March 31, 2008 and a $75 million revolver. The Rating Outlook remains Positive. The two-notch IDR upgrade and Bally's credit profile continues to be fueled by the significant improvement in its operating and financial performance that has been driven by its substantially improved product pipeline and solid acceptance of the Alpha operating platform over the past couple of years. Bally's credit profile continues to improve rapidly since Fitch previously upgraded its IDR seven months ago, in December 2007. As of... [read full story]