Nina Davuluri strikes a pose on the beach in Atlantic City after she was crowned Miss America 2014 last September. A multi-year agreement brought the Miss America pageant back to Atlantic City last year after an eight-year absence. (Photo by Michael Loccisano/Getty Images)
Analysts at Moody's Investors Service slashed Atlantic City's credit rating to junk status Wednesday, citing the New Jersey city's weakened tax base and revenue-raising ability. They cited declining casino revenue, the announced closings of casinos, and other factors, "all of which has stemmed from increased competition from casinos in neighboring states." [Full Story]
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