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Pinnacle Entertainment, Inc. -- Moody's confirms Penn National and Pinnacle Entertainment Ba3 CFR

Moody's Investors Service today confirmed the Ba3 Corporate Family Ratings for both Penn National Gaming, Inc. ("Penn") and Pinnacle Entertainment, Inc. ("Pinnacle"). Both companies were placed under review for downgrade on December 19, 2017 following the announcement that Penn will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion. Penn's and Pinnacle's Ba2 senior secured and B2 senior unsecured ratings were also confirmed.