SINGAPORE (Standard&Poor's) Dec. 5, 2003--Standard&Poor's Ratings Services said today it intends to assign an issue rating to Genting Bhd.'s proposed US$300 million exchangeable notes. The notes will be issued by 100%-owned special purpose vehicle Prime Venture (Labuan) Ltd. and guaranteed by Genting. The senior unsecured notes mature in 2008 and are exchangeable into ordinary shares of Genting's 57% subsidiary, Resorts World Bhd. The proceeds from the issue will be used to finance the Genting Group's overseas investments and working capital expenditures. Genting is an investment holding company, with leisure and hospitality division as its key earnings contributor. Standard&Poor's is reviewing the creditworthiness of the issuer, as well as the terms and conditions of the
