Thursday, May 30, 2024
HomeNewsAustraliaCrown outlook revised to negative by Fitch on probes

Crown outlook revised to negative by Fitch on probes


Fitch Ratings has revised its ratings outlook on Crown Resorts to negative from stable due to ongoing regulatory probes, but said it doesn’t think the operator will lose its license.

Fitch maintained the credit rating at BBB, but said it may downgrade the company were regulators to impose onerous conditions or fines. Under its base case scenario, Crown can absorb about A$800 million in fines and penalties while retaining a financial profile consistent with its rating.

The agency points out the hearings have revealed weaknesses in the company’s governance structure.


AGBrief Editorial
AGBrief Editorial
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.


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