S&P puts Mohegan on positive watch, rates loans B

S&P said it placed its B- issuer credit rating on Mohegan Tribal Gaming Authority on CreditWatch with positive implications.

At the same time, S&P assigned a B issue-level rating to the authority’s proposed $1.4 billion senior secured credit facility, which will consist of a revolver, term loan A and term loan B.

“The CreditWatch listing reflects our expectation that, if the proposed refinancing transaction closes as expected, we will raise our issuer credit rating on MTGA one notch to B from B-,” said S&P credit analyst Ariel Silverberg in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.