Tuesday, December 09, 2008

Standard & Poor's uncovers declining cash flows at MotorCity Casino


12.05.08

Apparently after putting MotorCity Casino's parent CCM Merger, Inc. on CreditWatch and downgrading its credit and default ratings on 12.05.08, Standard & Poor's discovered the parent of MotorCity Casino had a more significant decline in cash flows than had been understood in taking those actions and and as such Standard & Poor's was forced to revise downward and publish the recoverability ratings of Senior Notes CMM Merger, Inc. is owing investors.
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