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.
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Moody's gives high-risk rating to proposed Mohegan bonds (The New London Day 8/6) Related Stories:
Press Release: Moody's rating on Mohegan Tribal Gaming Authority notes (08/02)
Moody's gives high-risk rating to proposed Mohegan bonds (The New London Day 8/6) Related Stories:
Press Release: Moody's rating on Mohegan Tribal Gaming Authority notes (08/02)
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