S&P Global shifts Genting companies’ outlook to negative on weaker credit quality forecasts

S&P Global Ratings revised its outlook for the Genting group of companies to “negative” due to expectations of weakening credit quality amid high capital expenditure. The agency highlighted the group's elevated spending and risk appetite, predicting significant investments and rising debt. Genting's discretionary cashflow is expected to remain negative, with reported debt rising to RM35 billion by 2028. The group's growth-centric approach and lack of a clear financial policy were also noted as concerns.