February 14, 2008
Credit rating company reviewing Mohegan board's finances
A major credit rating company says it's reviewing the Mohegan Tribal Gaming Authority operations, including expansion of the Mohegan Sun Casino.
Moody's Investors Service will conduct a review of the gaming authority's credit rating, citing a disappointing first quarter and a massive $925 million expansion project.
If the credit rating is downgraded, it could make it more difficult for the authority to borrow money.
The Mohegan Tribal Gaming Authority's chief financial officer, says he'll meet with Moody's in the coming weeks to discuss the authority's financial health.
The Moody's announcement comes just months after the credit rating for the Mashantucket Pequot Tribe, owner of the Foxwoods Resort Casino, was downgraded by Standard & Poor's, another rating service.
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