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Moody’s Investors Service weighed in on southeastern Connecticut’s gaming tribes late last week, upgrading the Mohegans’ financial rating to “stable,” and attaching a “limited default” designation to the Mashantucket Pequots’ debt after the tribe secured a loan extension.
The tribes, respective owners of Mohegan Sun and Foxwoods Resort Casino, have faced severe financial pressures in recent months due to the COVID-19 pandemic’s impact on their businesses.
Moody’s upped the Mohegan Tribal Gaming Authority’s corporate family bond rating to “Caa1” from “Caa2” and its probability-of-default rating to “Caa1-PD” from “Caa2-PD.” The agency affirmed its “B1” rating on Mohegan’s first-lien revolver loan and its “Caa1” rating on Mohegan’s senior secured lien notes.
Norwich As COVID-19 vaccination sites proliferate in communities around the state, including in southeastern Connecticut, it was revealed Friday that a mass vaccination site at Foxwoods Resort Casino is being planned.
The news emerged during U.S. Sen. Chris Murphy’s visit to Backus Hospital, where the Connecticut Democrat met with Donna Handley, Hartford HealthCare’s East Region president, and more than a half-dozen other Backus officials gathered inside the hospital’s main entrance.
Handley indicated the Foxwoods site could eclipse the vaccinating capacity of the mass vaccination site Hartford HealthCare opened late last month at the Connecticut Convention Center in Hartford.
The two sides vying for access to sport betting made their cases Tuesday to state lawmakers who say they are closing in on legislation reworking gambling in Connecticut.