Genting Bhd Faces Investment Grade Pressure as Costs Rise

Malaysian gaming and plantations group Genting Bhd is facing increased pressure on its credit profile as major expansion projects and weaker-than-expected performances at several properties raise concerns over its investment-grade rating. S&P Global Ratings said Genting is at risk of becoming a “fallen angel” if earnings weakness continues and the company cannot take sufficient measures to protect its financial position. The company currently holds a “BBB-” rating with a negative outlook, leaving it one step above speculative grade. The ratings agency said the group’s […]

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