Moody’s said it downgraded casino developer and operator Naga Inc’s corporate family rating from “B2” to “B3.” In a Monday report, the agency also said it had changed its outlook for Naga Inc NA from “a rating under review” to “negative.”

The company’s senior unsecured rating on U.S. dollar bonds was also downgraded to “B3,” the rating agency said. The bond noted that it is under “unconditional and irreversible” guarantees by […]