S&P affirms Mohegan Tribal

Standard & Poor's said it affirmed its ratings on Mohegan Tribal Gaming Authority, including its B issuer credit rating.

The agency said it removed the ratings from Creditwatch, where it placed them with negative implications on Jan. 30.

The outlook is negative.

"The ratings affirmation reflects its expectation that MTGA is less likely to face a near-term covenant violation and that it will be able to utilize its credit facility to repay $330 million of senior subordinated notes, which mature on July 15, 2009," said S&P credit analyst Melissa Long.

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