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S&P Rank Tribal Gaming Stocks at Top

NEW YORK – As reported by Reuters: "All current credit ratings of Native American gaming operations rank in the top 50% of rated gaming enterprises and companies, according to a report published today by Standard & Poor's Ratings Services.

"`The overall credit quality of most Native American gaming operations is non-investment grade due mainly to their limited business diversity and evolving competitive landscapes,' said Standard & Poor's credit analyst Michael Scerbo.

"…Of the six Native American gaming issuers rated by Standard & Poor's, five have non-investment grade ratings.

"The exception is Mashantucket Western Pequot Tribe (Foxwoods), which bears an investment-grade rating due to its `solid balance sheet and its position in the densely populated and capacity-constrained New England market,' Mr. Scerbo said.

"…All six issuers have stable outlooks…"

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