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. Get the Story: