<div id="subtitle">Tribe that runs Foxwoods Resort Casino reach deal with lenders to delay debt repayment</div><div><p>The American Indian tribe that operates Foxwoods Resort Casino says it has reached a preliminary deal with most of its senior lenders to extend its current forbearance agreement until the end of April.</p><p>The Mashantucket Pequot Tribal Nation says that the agreement was originally set to expire Wednesday. Such deals occur when a creditor gives up the right to immediate repayment of a loan by a debtor under certain conditions.</p><p>The tribe has been seeking to restructure billions of dollars in debt after its casino business was hit hard by the economic downturn and increased competition.</p><p>The tribe says its efforts are "separate and distinct" from operations at Foxwoods and will not affect customers, employees, suppliers or business partners.</p><p>The tribe expects to finalize and execute a new deal "shortly."</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=67434881&bid=informcom" /></div><div id="copyright"><div>

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