Moody's reviews Genting for downgrade

Moody's Investors Service said it placed on review for downgrade the Baa1 issuer rating of Genting Bhd. and the A3 issuer rating of Genting Singapore Ltd. Moody's also placed on review for downgrade the Baa1 issuer rating of Genting Overseas Holdings Ltd.

Concurrrently, Moody's placed on review for downgrade the Baa1 backed senior unsecured rating of the notes issued by GOHL Capital Ltd., a wholly owned subsidiary of Genting Overseas, which guarantees the notes. Moody's changed the outlook on all ratings to ratings under review for downgrade from stable.

“The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The gaming sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment,” said Moody’s in a press release.

© 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.