27.08.2014 22:11:00

Casino Reinvestment Development Authority, NJ -- Moody's places (CRDA) Casino Reinvestment Development Authority's, NJ Hotel Fee Revenue Bonds, Series 2004 under review for possible downgrade

New York, August 27, 2014 -- Moody's Investors Service has placed the Baa2 negative special tax rating on the Casino Reinvestment Development Authority's (NJ) $66 millionHotel Fee Revenue Bonds under review for possible downgrade. The bonds are secured by a senior lien on a $3 fee imposed on each occupied hotel room each night in Atlantic City casinos. The fee is collected by the casinos and transferred to the state Treasurer on a quarterly basis. A debt service reserve on this series of bonds is funded with a surety bond from Ambac.

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