Moody's may upgrade Seminole Tribe

Moody's Investors Service said it placed the Seminole Tribe of Florida's ratings on review for possible upgrade, including its Ba1 corporate family and probability-of-default ratings and the Ba1 (LGD3, 49%) ratings on its $1.235 billion term loan due 2014, $280 million 6.535% series 2005 B notes due 2020 and $450 million 5.798% series 2005 A notes due 2013.

The agency said that in addition to the tribe's projected financial performance, financial policy and strategic direction, the review for upgrade will consider the tribe's past and current efforts related to improving its overall corporate governance profile. A key component of the review will be the tribe's progress in addressing recommendations made by the National Indian Gaming Commission that were included as part of its audit findings released earlier this year.

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