- Language: English
- 83 Pages
- Published: October 2010
- Region: Pakistan
Mohegan's Proposed Credit Facility And First-Lien Second-Out Term Loan Assigned Preliminary Ratings Jan 12
- Published: January 2012
- Standard & Poors
NEW YORK (Standard & Poor's) Jan. 30, 2012--Standard & Poor's Ratings Services today assigned Uncasville, Conn.-based Mohegan Tribal Gaming Authority's (MTGA) planned new bank facility, comprising a $200 million revolving credit facility and a $275 million term loan both due March 31, 2015, its preliminary 'B-' issue-level rating. In addition, we assigned MTGA's planned $225 million first-lien second-out term loan our preliminary 'CCC+' issue-level rating. Standard & Poor's does not assign recovery ratings to Native American debt issues, as there are sufficient uncertainties surrounding the exercise of creditor rights against a sovereign nation. These include (1) whether the U.S. Bankruptcy Code would apply, (2) whether a U.S. court would ultimately be the appropriate venue to settle such a matter, and...
Companies mentioned in this report are: Mohegan Tribal Gaming Authority
Action: New Rating
Action: Preliminary Rating
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Research type: News
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Mohegan Tribal Gaming Authority