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A “heightened risk of severe regulatory action” has prompted Fitch Ratings to put Crown Resorts on credit watch negative for a potential ratings downgrade.
Fitch Ratings has placed Crown Resorts on watch for a ratings downgrade, saying the New South Wales Independent Liquor & Gaming Authority probe has raised the risk of severe regulatory action, including loss of license.
Nagacorp, the operator of Cambodia’s NagaWorld, has undoubtedly been one of Asia’s integrated resort success stories, though credit ratings agency Moody’s is now sounding a note of caution about its expansion plans.
Credit ratings agency, Moody's says Nagacorp's planned development of a resort near the Angkor Wat temple complex is credit negative as it reduces the company's liquidity buffer. The plan pushes capital expenditure over the next five years to $4 billion.
Fitch Ratings has downgraded Universal Entertainment’s credit rating due to the impact of the coronavirus on the gaming industry and said it expects the group’s Okada Manila property to post a 70 percent drop in Q2 revenue.
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 has affirmed Macau’s credit rating at “AA” with a stable outlook, citing the territory’s “exceptionally strong public and external finances, combined with a demonstrated commitment to fiscal prudence during periods of both gaming windfalls and negative revenue shocks.”
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.
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