RESORTS INTL <RT.A> DEBT RATINGS AFFIRMED BY S/P
Standard and Poor's Corp said it
affirmed the ratings on 600 mln dlrs of debt of Resorts
International Inc and Resorts International Financing Inc.
    Developer Donald Trump has agreed to pay 101 mln dlrs for
all of Resorts International's class B shares, representing 93
pct voting control, S and P noted. Trump said he would not
tender for the 5.7 mln shares of publicly held class A stock.
    The agreement is subject to approval by the New Jersey
Casino Control Commission. S and P pointed out that Resorts'
aggressive debt leverage is offset by the firm's extensive real
estate holdings in Atlantic City, N.J.
    Affirmed were the B-minus subordinated debt of Resorts
International and its financing unit.
    Standard and Poor's noted that Resorts International
remains highly leveraged, with significant near-term financing
requirements for the completion of its new casino/hotel in
Atlantic City, the Taj Mahal.
    While operations are profitable, the interest burden of
debt, along with unusual charges, net of gains, led to a 30.6
mln dlr net loss in 1986, S and P pointed out.
    Longer-term, Resorts is expected to benefit from a
strengthened competitive position, S and P added.
 Reuter
