Moody's Investors Service has assigned a high-risk rating to gaming-related bonds being offered by the Mohegan Tribe of Connecticut.
The Mohegan Tribal Gaming Authority is issuing $425 million in bonds as part of a restructuring of its debt. Moody's said the offering was a "very high credit risk," according to a press release. Overall, however, Moody's said the outlook for the MTGA was "stable." The tribe operates Mohegan Sun on its reservation in Connecticut and Mohegan Sun at Pocono Downs, a commercial facility in Pennsylvania. Get the Story: