11/14/2023 0 Comments River rock casino news![]() PBC and Dundee declined requests to be interviewed for this story. Dundee, a Toronto-based public holding company with investments in agriculture, resources and real estate, owns the remainder. Privately held PBC Group, an Ottawa-based real estate developer, is the majority owner of Parq with 63 per cent. “We still believe that, absent a debt recapitalization, the company will be unable to materially address its high fixed charges and financial sustainability,” S&P said, adding there’s a risk of a payment default or a debt restructuring within the next 12 months. ![]() The amount of interest isn’t disclosed, but Parq had deferred an interest payment by one month to April 30 and its ability to pay hinges on the company refinancing its debt, S&P said earlier this month when it downgraded Parq Holdings LP to CCC, eight notches below investment grade, from B. Parq Holdings LP has a US$150 million second-lien term-loan that was arranged by a syndicate of financial institutions led by Credit Suisse Securities in 2014, according to data compiled by Bloomberg.
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