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StumbleCredit ratings cut by S&P
Thursday, Feb. 3, 2000 | 11:36 a.m.
THE ASSOCIATED PRESS
NEW YORK -- Standard & Poor's lowered its credit ratings on Trump Hotels & Casino Resorts.
S&P said it lowered the company's corporate credit rating from "B-" to "CCC+ ." The outlook is negative.
The agency said the downgrade is the result of "increasing concerns about the consolidated company's high debt leverage and limited liquidity." Trump has been engaged in unsuccessful efforts to refinance its debt.
Trump Hotels is the parent company of Trump Taj Mahal, Trump Plaza and Trump Marina in Atlantic City, as well as Trump Indiana, a riverboat operation in northern Indiana.
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