Troubles at Trump’s Taj: Developer Donald J....
From Times Staff and Wire Reports
Troubles at Trump’s Taj: Developer Donald J. Trump’s Taj Mahal casino hotel in Atlantic City, N.J., is not making enough money to meet its $47.3-million interest payment to bondholders on Nov. 15, Fitch Investors Service said. As a result, the rating agency said, bondholders may seek up to half of Trump’s equity in the casino hotel as part of a restructuring of the $675-million bond issue. “Trump asked bondholders to defer the interest payment in return for equity,” Fitch said in a press release. “Negotiations are in progress between Trump and bondholders.”
