Funding sources for the Quechan Indian Tribe’s new casino resort west of Yuma have been downgraded to junk bond status, and officials for a financial ratings company say the tribe faces the possibility of default if it cannot secure $25 million in private funding. A global credit squeeze led Fitch Ratings to downgrade $155 million in bonds issued for the new casino and report that the tribe is likely to be in jeopardy of default if it cannot gain the final $25 million of a $214 million project.
