Genting Group credit rating confirmed, outlook remains negative

Moody’s has reaffirmed the credit ratings of Genting Bhd and Genting Singapore, but said the outlook remains negative due to the uncertainty regarding the pace of recovery.

The ratings agency points out that Genting, one of the world’s largest casino operators, has good access to funding, which will help provide support even though cash flow from its integrated resorts worldwide remains weak.

Genting’s Malaysian unit has the monopoly casino license in Malaysia, while it holds duopoly in Singapore. The group is opening a more than $4 billion resort in Las Vegas later this summer, while it also has operations in New York, the U.K. and the Bahamas.

Moody’s reaffirms Genting credit rating (Moody’s)