Moody's maintains CCM Merger's negative rating outlook
CREDIT OPINION: CCM Merger, Inc.
CREDIT OPINION: CCM Merger, Inc.
CREDIT: CCM Merger, Inc.
August 30, 2007
CCM Merger, Inc. Construction began in November 2005. On June 7, 2007 the company completed and opened its casino expansion area.
Rating Rationale
The ratings continue to acknowledge the company's, high leverage, single asset profile and significant ongoing promotional activity in the Detroit gaming market. Positive rating consideration is given to the favorable demographics, population density and limited competition that characterize the Detroit gaming market. The other competing casino, Greektown Casino, is not expected to complete it expansion project until late in 2008.
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