Moody's may cut MTR Gaming

Moody's Investors Service said it placed MTR Gaming Group, Inc.'s B1 corporate family rating, B1 probability of default rating, B2 rating (LGD4, 60%) on its $130 million 9¾ % senior unsecured notes due 2010 and B3 rating (LGD5, 88%) on its $125 million 9% senior subordinated notes due 2012 on review for possible downgrade after a 10-K filing showed material weakness in internal controls related to financial reporting.

The review will focus on the company's short term liquidity, along with concerns about operating performance, Moody's said.

Pressures from competition and the potential impact of a prolonged strike at the company's largest property will be assessed, the agency said.

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