Korea a long-term positive for Mohegan, Moody’s says

Mohegan Sun’s Inspire Entertainment Resort project in Incheon, South Korea, will be a long-term positive for the group, despite the risks, Moody’s Investors Service said in a periodic review of the company’s credit rating.

The resort will help the company to diversify its income streams away from its U.S. properties, it said.

Moody’s rates Mohegan’s at Caa1, which it said reflects its high leverage, earnings concentration in a few properties with high competition, and exposure to cyclical volatility.