Rating Service Reviewing Credit Rating of Mohegan Sun
UNCASVILLE, Conn. (AP) _ Moody’s Investors Service has placed the Mohegan Tribal Gaming Authority, operator of casinos in Connecticut and Pennsylvania, on review for a possible downgrade, citing concerns about its ability to reduce its debt.
Keith Foley, a senior vice president at Moody’s in New York, said Tuesday that the tribal gaming authority may find it difficult to reduce its debt in time to refinance outstanding bonds on good terms.
The gaming authority operates casinos at Uncasville, Conn., and Plains Township, Pa.
The Mohegan gaming authority announced last week it will cut 355 jobs and reassign 120 other workers in Connecticut following falling slots revenue in the last year.
A spokesman for the Mohegan gaming authority did not immediately comment on the Moody’s action.
(Copyright 2010 by The Associated Press. All Rights Reserved.)