|
|
 |
|
Viewing report
|
|
|
|
Bulletin: Melco Crown Gaming (Macau) Ltd. Rating Unaffected By Acquisition Of Macau Studio City Project Jun 11
Standard & Poors, June 2011
Abstract
HONG KONG (Standard & Poor's) June 17, 2011--Standard & Poor's Ratings Services said today that the rating on Melco Crown Gaming (Macau) Ltd. (BB-/Stable/--; cnBB+/--) is not affected by the acquisition of an integrated leisure resort in Macau by the company's parent. In our view, the acquisition of Macau Studio City could weaken the credit profile of Melco Crown Entertainment Ltd. (MCE) because it will increase its leverage and construction risk. On the other hand, MCE's cash flow generation from existing properties (Altira Hotel and City of Dreams) has stabilized and management has a track record of executing large-scale projects, which partly offset the risks. In addition, the new project could strengthen the group's product diversity and market position. We...
Companies mentioned in this report are: Melco Crown Gaming (Macau) Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
