San Manuel
Bonds Rating Upgraded
As reported by the California
Press-Enterprise: "New York bond-rating
service released a glowing financial report
Thursday on the San Manuel Band of Mission Indians,
which sold $265 million in bonds in late 2004
to help pay for its new casino near Highland.
"Fitch
Ratings also upgraded its rating of the bonds
from A- to A, which reflects the tribe's 'impressive
improvement in financial margins,' according
to the report.
"…'An
A-rating on a tribal bond with casino backing
is pretty high,' said Fitch analyst Jessalynn
Moro, who helped write the report.
"…A
higher rating means the bond is a more secure
investment, but it also produces a lower interest
rate for investors…"
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