Fitch: Quechan view positive

Fitch Ratings said it affirmed Quechan Indian Tribe's issuer default rating at CCC and revised the outlook to positive from stable.

The agency also affirmed Quechan's gaming enterprise revenue bonds at B- and the governmental project bonds at CCC.

The outlook reflects improvement in operating performance at Quechan's gaming enterprise, reduction in debt service through refinancing and paydown of debt, and more prudent fiscal management by the tribe, Fitch said.

The affirmation reflects the still weak economy in Yuma, Ariz., with unemployment now at peak levels and the lack of an established track record of prudent fiscal management on the tribal side, the agency said.

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