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Moody’s updates credit outlook for Seminole Tribe

April 30, 2021 - Moody's Investor's Service has changed its outlook for the Seminole Tribe of Florida to stable from negative. Moody's also affirmed The Tribe's Baa2 credit rating, an investment grade rating that reflects the company's dominant market position in the state's gaming market and its strong financial profile, a news release said. The moves are indicative of the strong operating performance since the company's casinos reopened following the March 2020 closures. Moody's said it expects revenue to increase over the next year as limitations on social distancing and capacity are eased. The credit agency said The Tribe would be able to easily absorb any resumption of payments under its compact with the state of Florida. Those payments have been suspended since 2019. The Tribe owns and operates the Seminole Hard Rock Tampa and other gaming businesses.

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