Genting Rating Raised To 'BBB+' On Strong Operating Performance And Intermediate Financial Risk Profile; Outlook Stable
- Language: English
- Published: May 2011
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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Genting Bhd.,Prime Holdings (Labuan) Ltd.