Mashantucket, Connecticut (AP) 11-09

The tribal owners of Foxwoods Resort Casino, who are seeking to restructure billions of dollars in debt, say they’ve reached a temporary agreement with creditors that could offer some relief.

The Hartford Courant has reported that the Mashantucket Pequot Tribal Council issued a statement saying it “has entered into a forbearance agreement with its senior lenders” that extends through Jan. 20.

Such deals occur when a creditor gives up the right to immediate repayment of a loan by a debtor under certain conditions.

The tribe did not provide additional details of the arrangement, including how much debt is covered by the forbearance.

The tribe does not publicly disclose its finances but there have been reports the Mashantuckets are trying to re-negotiate more than $2.3 billion in debt.

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