S&P rates Mohegan Tribal Gaming loan B-

S&P said it assigned its B- issue-level rating to Mohegan Tribal Gaming Authority’s $263 million secured revolving credit facility maturing in 2023.

The CCC+ issuer credit rating on the authority remains on CreditWatch, where S&P placed it with positive implications on Jan. 13, “to reflect our expectation that we will raise our issuer credit rating to B- once its refinancing transactions close,” S&P said in a news release.

The transactions will eliminate the authority’s near-term refinancing risk and improve its debt maturity profile, S&P said.

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