Indian Gaming > Mashantucket Tribe faces lowering of credit rating

July 17, 2008

Mashantucket Tribe faces lowering of credit rating

The Mashantucket Pequot Tribal Nation of Connecticut faces a downgrade of its credit rating.

The tribe's rating from Standard & Poor's was lowered in November from BBB- to BB+. Analysts were concerned about the tribe's debt and financial practices.

S&P is going to review the rating again after the tribe reported a 9 percent drop in slot machine revenues for the month of June. Analysts expected the tribe's new casino, the MGM Grand at Foxwoods, to do better.

Get the Story:
Mashantuckets could take a hit on their credit rating (The New London Day 7/17)
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