Fitch assigns Genting New York BBB-

Fitch Ratings said it assigned Genting New York LLC, a fully owned subsidiary of Genting Malaysia Bhd., a BBB- issuer default rating with a negative outlook. Simultaneously, the agency gave a BBB- rating to the proposed unsecured notes to be issued by Genting NY and Genny Capital Inc. as a co-issuer.

“The proposed notes are rated at the same level as the IDR because they will constitute GenNY’s direct, unsubordinated and unsecured obligations,” Fitch said in a press release.

The company plans to use the proceeds to refinance debt.

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