ATLANTIC CITY’S CREDIT RATING TAKES ANOTHER HIT

Closing casinos have hurt the economy, jobs, and now credit rating of Atlantic City. Standard and Poor’s downgraded the city’s credit rating from A-minus to BBB-plus. The city has seen four casinos close this year, with the possibility remaining that the Trump Taj Mahal could close before the year is up as well. The downgraded credit rating means the city will have to pay more in order to borrow money.