Choctaw Resort Development Enterprise (CRDE), a business enterprise of the Mississippi Band of Choctaw Indians, announced today that Standard and Poor's Ratings Services has upgraded their issuer credit ratings.
Choctaw, MS (PRWEB) June 16, 2016
Choctaw Resort Development Enterprise (CRDE), a business enterprise of the Mississippi Band of Choctaw Indians, announced today that Standard and Poor's Ratings Services has upgraded their respective ratings of CRDE’s issuer credit rating, senior secured issue rating and senior notes rating as follows:
- CRDE’s Issuer Rating upgraded one notch from B+ to BB-
- CRDE’s Senior Secured Issue Rating upgraded one notch from B+ to BB-
- CRDE’s Senior Notes Rating upgraded two notches from B- to B+
In its report, Standard and Poor's described CRDE's "recently completed property renovations" and "stable outlook" as reasons for the upgrade.
"We are gratified that S&P continues to recognize CRDE’s sound financial structure and conservative fiscal management," said Sonny Johnson, Interim President & CEO for Pearl River Resort. “The fact that S&P has raised our respective issuer and credit issue ratings did not happen by accident. We worked together as an executive team to control spending, reduce operating costs and improve reserves, while making necessary infrastructure improvements and continuing our commitment to our employees and the Tribe.”
About Pearl River Resort
Owned and operated by the Mississippi Band of Choctaw Indians, Pearl River Resort is the South’s premier gaming and entertainment enterprise. Pearl River Resort’s portfolio of assets includes Silver Star Hotel & Casino, Golden Moon Hotel & Casino, Dancing Rabbit Golf Club, and Geyser Falls Water Theme Park located in Choctaw, Mississippi and Bok Homa Casino located in Sandersville, MS.
The Silver Star and Golden Moon Casinos feature two exciting hotel/casinos with a variety of gaming options, timeless and comfortable hotel rooms, Phillip M’s award-winning steakhouse, a sports bar and grill and a variety of other dining options, a full service spa, retail offerings and live entertainment. Also featured is Dancing Rabbit Golf Club with two championship golf courses and Geyser Falls Water Park. Bok Homa Casino features over 720 slot machines, 12 table games, an event center and a fabulous quick serve eatery.
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