Rivers Casino Credit Rating Drops to Dismal Low

Investors in Rivers Casino are pouring more money into the underperforming facility.  The investors include Rivers Casino Chairman Neil Bluhm and the Detroit fire and police pension funds that together are putting up $108 million to pay for the table games license, retire existing debt and provide liquidity.  While this may seem like welcome news to some, it is viewed as a strong negative by the bond rating agency Standard and Poor’s (S&P).

 

 

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