Fitch Ratings - New York - 14 Mar 2022: Fitch Ratings has affirmed The Morongo Band of Mission Indians' Long-Term Issuer Default Rating (IDR) at 'BBB-' and 2018 secured bonds at 'BBB-'. The Rating Outlook is Stable.

The affirmation reflects Morongo's conservative leverage profile and healthy underlying operations, which are supported by favorable end market trends and higher levels of profitability. Fitch anticipates a pullback in gaming demand in 2022 due to a tougher yoy comps, but manageable in the context of the rating. The IDR also reflects Morongo's strong market position, a history of prudent and stable governance, and limited geographic diversification.

Complete article: Fitch Affirms Morongo's 'BBB-' IDR; Outlook Stable