Fitch rates Genting Singapore notes BBB

Fitch Ratings said it assigned Genting Singapore plc's (A-/stable) S$500 million perpetual capital securities a final BBB rating.

The company's issuer default rating incorporates support from the company's 52% major shareholder Genting Bhd. (A-/stable) and reflects its strategic importance to Genting, according to the agency.

Genting's sound financial profile, robust cash flow and prospects for continued growth support a BBB issuer default rating on a standalone basis, the agency noted.

These strengths are tempered by the company's single-asset and single-market exposure, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.