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pechanga casino promotions(Image: Las Vegas Review-Journal)The research firm raised its outlook on the gaming company’s debt grade to “stable” from “negative” in a new report.That could be a sign the operator’s market capitalization isn’t adequately reflecting that cash.4 million.“The company’s improved earnings before interest, taxes, depreciation and amortization (EBITDA) margin since reopening, including performance in early 2021, positive free cash flow and good liquidity, coupled with the expectation for debt reduction, are reducing leverage from the peaks hit during the coronavirus and improving the company’s flexibility to manage amid the lingering effects of the pandemic,” said Moody’s.63 percent year-to-date, the Strat operator is easily one of the best-performing gaming equities in 2021.85x, but Moody’s expects covenant leverage to fall below this level in the second quarter, with the cushion improving thereafter.roulette at the casino

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