from today's The Day (CT):
Mashantuckets' Credit Rating Lowered
High debt, declining Foxwoods revenues cited in downgrade
By Heather Allen Published on 10/14/2008
"Concerned by the amount of debt that the Mashantucket Pequot Tribe has taken on, Standard & Poor's Rating Services has lowered the tribe's credit rating.
The tribe's credit rating was downgraded from BB+ to BB- on Friday and, according to S&P, the rating reflects “the tribe's high debt leverage, limited geographic diversity and significant historical and expected distributions to tribal members.”
A company with considerably more debt than equity is considered highly leveraged." ....
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