S&P rates Seminole Tribe loan BBB-

Standard & Poor's said it affirmed its BBB- issuer credit rating on the Seminole Tribe of Florida. The outlook is stable.

At the same time, S&P assigned the Tribe's proposed $750 million term loan due 2020 a BBB- issue-level rating.

The Tribe plans to use the proceeds of the new term loan, along with existing cash, to repay the $795 million outstanding under its existing term loans.

The issuer credit rating on the Tribe reflects S&P's assessment of the business risk profile of the Tribe's gaming operations as "strong" and its financial risk profile as "significant."

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