Trump Taj Mahal’s closure spells bad news for cash-strapped Atlantic City

Wall Street credit rating agency Moody’s Investors Service has a good news and bad news for the financially struggling Atlantic City.

For the good news, Moody’s pointed out that the loan that the state of New Jersey injected to Atlantic City has prevented the state’s gaming capital from defaulting on its debts.

Moody’s, on the other hand, summed up the bad news in three words: Trump Taj Mahal.

According to news website NJ.com, Moody’s has sounded alarm that the closure of Taj will spell disaster to the already cash-strapped Atlantic City.