Moody's Investors Service has downgraded the credit ratings of the debt held by two Connecticut tribal casinos.
The Mohegan Tribal Gaming Authority's corporate family rating and the rating on over $1 billion in debt were both downgraded. Another $1 billion in debt held by the Mashantucket Pequot Tribal Nation was also downgraded.
Both tribes have seen a drop in slot machine revenues in the past year. Both embarked on high-profile, expensive casino expansion projects.
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Moody's downgrades Native American casino debt
(AP 11/19)
Connecticut
Moody's downgrades Mohegan, Mashantucket debt
Wednesday, November 19, 2008
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