Indian Casino Jeopardized by Credit Crunch

The credit crisis is hitting Indian Country, according to a report in the San Diego Union Tribune. Fitch Ratings has downgraded $155 million in bonds issued for the new Quechan casino in California and is warning that the tribe may face default on the bonds if it is unable to secure a final $25 million source of external funding for the project. The tribe hopes to financing secured by the end of the week.