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Research Update: Genting Rating Raised To 'BBB+' On Strong Operating Performance And Intermediate Financial Risk Profile; Outlook Stable

  • ID: 1787138
  • May 2011
  • Standard & Poors
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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
Action: Upgraded

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Genting Bhd.,Prime Holdings (Labuan) Ltd.

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