S&P ups Genting Berhad rating

Standard & Poor's said it raised its long-term corporate credit rating on Malaysian conglomerate Genting Berhad to BBB+ from BBB-. The outlook is stable.

"The upgrade is based on Genting's stable earnings as a result of its diversified business segments, improved operating environment in its core leisure and hospitality segment, and expectation that sound financial discipline will be maintained over the medium term as the group executes its growth strategy," said S&P credit analyst Ee-Lin Tan.

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