Mohegan Tribal Gaming faces credit review

15 Feb 2008

CONNECTICUT -- As reported by the Connecticut Day: "Moody's Investors Service says it will conduct a review of the Mohegan Tribal Gaming Authority's credit rating, citing a disappointing first quarter and a massive $925 million expansion project.

"The announcement comes just months after the Mashantucket Pequot Tribe's credit rating was downgraded by Standard & Poor's, another rating service.

"If the credit rating is downgraded, it could make it more difficult for the authority to borrow money because potential lenders will require higher interest rates on their debt because of increased risk.

"Leo Chupaska, the Mohegan Tribal Gaming Authority's chief financial officer, said he will meet with a representative from Moody's in the coming weeks to discuss the authority's financial health. That representative will then report back to other officials at Moody's and decide whether to maintain the gaming authority's credit rating or downgrade it.

"And while both casinos are considered financially stable, the announcement of the credit review comes on the heels of a steep decline in slot revenues at both..."

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	Mohegan Tribal Gaming faces credit review 15 Feb 2008 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> CONNECTICUT -- As reported by the Connecticut Day: "Moody's Investors Service says it will conduct a review of the Mohegan Tribal Gaming Authority's credit rating, citing a disappointing first quarter and a massive $925 million expansion project. "The announcement comes just months after the Mashantucket Pequot Tribe's credit rating was downgraded by Standard & Poor's, another rating service. "If the credit rating is downgraded, it could make it more difficult for the authority to borrow money because potential lenders will require higher interest rates on their debt because of increased risk. "Leo Chupaska, the Mohegan Tribal Gaming Authority's chief financial officer, said he will meet with a representative from Moody's in the coming weeks to discuss the authority's financial health. That representative will then report back to other officials at Moody's and decide whether to maintain the gaming authority's credit rating or downgrade it. "And while both casinos are considered financially stable, the announcement of the credit review comes on the heels of a steep decline in slot revenues at both..."