Research Update: Genting Rating Raised To 'BBB+' On Strong Operating Performance And Intermediate Financial Risk Profile; Outlook Stable
- ID: 1787138
- May 2011
- Standard & Poors
Genting Bhd.'s 2010 financial results were above our expectations, reflecting the strong performance of Resorts World Sentosa in Singapore. We are raising our corporate credit rating on Genting, a Malaysia-based gaming and leisure company, to 'BBB+' from 'BBB'. We are also raising the issue rating on Genting's outstanding notes to 'BBB+' from 'BBB', and our ASEAN scale rating on Genting to 'axA+' from 'axA'. The stable outlook reflects our expectation that Genting will continue to generate strong operating cash flow and maintain an intermediate financial risk profile. On May 16, 2011, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Genting Bhd. to 'BBB+' from 'BBB'. The outlook is stable. At the same time, Standard & Poor's...
Companies mentioned in this report are: Genting Bhd.,Prime Holdings (Labuan) Ltd.
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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