On Wednesday, S&P Global Ratings lowered its long-term issuer credit rating on Genting Malaysia to 'BBB+' from 'A-', citing the firm’s aggressive expansion plans that are increasing leverage and weakening cash flow.
MGM China Holdings says it’s raising $1.25 billion through a private placement of senior notes to help repay outstanding funds under its credit facility.
Genting Singapore’s S$4.5 billion plan to expand its non-gaming attractions will only have a modest impact on its leverage and earnings and therefore its credit rating remains unchanged, Fitch Ratings said in a report.
Fitch Ratings assigned Universal Entertainment Corporation a “Long-Term Foreign-Currency Issuer Default Rating of 'B+' with a Stable Outlook” after providing a modestly optimistic assessment of the firm, especially its Okada Manila IR in the Philippines.
The credit profile of Macau’s casinos operators is likely to improve in 2018, though upgrades are not likely to be on the cards due to the intrinsic
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