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Fitch Ratings likes Seminoles

Fitch Ratings likes Seminoles

 Here is the press release from Fitch Ratings, documenting their upgrade of the Seminole Tribe of Florida.

 Fitch Ratings assigns a 'BBB' rating to Seminole Tribe of Florida's (STOF) proposed $395 million incremental term loan B. Fitch also upgrades STOF's Issuer Default Rating (IDR) to 'BBB-' from 'BB+', the gaming division's parity debt to 'BBB' from 'BBB-' and the tribe's special obligation bonds to 'BBB-' from 'BB+'. The Rating Outlook is revised to Stable from Positive.

The proposed term loan will be pari passu with STOF's existing term loan and gaming enterprise
revenue bonds and will be secured by a revenue pledge of STOF's gaming operations, which