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BRIEF-Moody's says state takeover of Atlantic City likely to prevent default, a credit positive
November 28, 2016 / 7:40 PM / a year ago

BRIEF-Moody's says state takeover of Atlantic City likely to prevent default, a credit positive

Nov 28 (Reuters) -

* Moody’s - state takeover of Atlantic City likely to prevent default, a credit positive

* Moody’s - the state of New Jersey Takeover is credit positive for Atlantic City, likely eliminating any immediate threat of default at least through 2017

* Moody’s - while the State has not officially guaranteed Atlantic City‘S debt, director Cunningham has said the state intends to prevent any default

* Moody’s - while New Jersey has financial issues of its own, temporarily covering Atlantic City‘S debts would barely register on its balance sheet

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