<div id="readability-page-1"><div><p>[SINGAPORE] Ratings agency Moody’s has on Monday (Dec 8) downgraded Genting Bhd and two of its subsidiaries, following a review that started in October.</p><p>Genting Bhd, which is listed on Bursa Malaysia, has been downgraded to Baa3 from Baa2.</p><p>The rating of investment holding company Genting Overseas Holdings, which is the holding entity for the parent company’s stake in Genting Singapore, was also cut by one notch to Baa3. This means that the senior unsecured notes issued by Genting Overseas Holdings have been downgraded by the same. </p><p>Singapore Exchange-listed Genting Singapore’s rating was similarly revised downwards to Baa1 from A3. </p><p>“The ratings downgrade reflects Genting Bhd’s already-weak position due to prolonged deleveraging amid slower-than-expected earnings recovery, further strained by increased debt to fund its take-over offer for Genting Malaysia Bhd and expected spending following the potential award of a downstate New York City commercial casino licence,” said Anthony Prayugo, an analyst at Moody’s. </p><p>Moody’s added that the outlook on all ratings are stable, and that this reflects its expectation that earnings will continue to improve at Genting Bhd’s operations in Singapore and Las Vegas. </p><p>Execution risk for its downstate New York City project is also expected to remain minimal, such that the project will be earnings accretive by the second half of 2026, which would support a recovery in credit metrics. The ratings agency also believes that the group will not undertake any additional debt-funded expansion projects.</p></div></div>

云顶新加坡

<p>穆迪下调了云顶集团及其两家子公司的评级，原因是财务状况疲弱和收购导致债务增加。云顶集团的评级降至 Baa3，云顶海外控股降至 Baa3，云顶新加坡降至 Baa1。尽管前景稳定，但预计新加坡和拉斯维加斯的盈利将恢复，纽约市项目的风险较小，这将支持到 2026 年信用指标的恢复</p>

穆迪下调了云顶有限公司及其两家子公司的信用评级