Station Casinos plans on another loan extension

Station Casinos expects its lenders to agree to another extension so it can continue negotiating a prepackaged bankruptcy plan, the company said today.

"We expect to receive an extension of the forbearance period from our lenders," company spokeswoman Lori Nelson said. "We are anticipating receiving the signed agreement shortly."

Terms of the agreement will be released as early as later today.

The company is operating under a forbearance agreement that expires today. The agreement, which was signed May 15, and was the third one bondholders have agreed to since early February.

The company has been negotiating a rorganization plan to eliminate part of its $5.7 billion debt load since early February.