Atlantic City in deep financial trouble

Governing - Financially beleaguered Atlantic City is at risk of defaulting on millions in debt, a new credit analysis warned. The city faces a $40 million loan repayment at the end of March and needs access to the credit market to refinance that loan. Its credit rating is at junk status, which will make it difficult for the city to find reasonable refinancing. “With only four business days between now and March 31,” the Moody’s Investors Service analysis said, “it will be difficult to refinance the loan in the capital markets.”