Genting Malaysia’s Resorts World New York is seen as strategically important to the group’s expansion plans in the U.S. and will be a feeder market to Las Vegas, where it is building a $4.3 billion integrated resort, Fitch Ratings said.

The rating agency made the comments in a note assigning a Issuer Default Rating (IDR) of ‘BBB-‘ with a Negative Outlook to the Genting New York’s proposed note issue.