<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>

雲頂新加坡

<p>穆迪下調了雲頂集團及其兩家子公司的評級，原因是財務狀況疲弱和收購導致債務增加。雲頂集團的評級降至 Baa3，雲頂海外控股降至 Baa3，雲頂新加坡降至 Baa1。儘管前景穩定，但預計新加坡和拉斯維加斯的盈利將恢復，紐約市項目的風險較小，這將支持到 2026 年信用指標的恢復</p>

穆迪下調了雲頂有限公司及其兩家子公司的信用評級