Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing - S&P Global Ratings’ Credit Research

Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing

Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing - S&P Global Ratings’ Credit Research
Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing
Published Jun 25, 2019
2 pages (1228 words) — Published Jun 25, 2019
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Abstract:

HONG KONG (S&P Global Ratings) June 26, 2019--S&P Global Ratings today said that Melco Resorts&Entertainment Ltd.'s (MLCO) proposed acquisition of 75% interest in ICR Cyprus Holdings Ltd. via an equity swap with parent Melco International Development Ltd. (MID) will improve its ability to support development of its greenfield casino project in Cyprus. This will in turn support the credit profile of Melco Resorts (Macau) Ltd. (BB/Stable/--), which is a core subsidiary of MLCO. We believe MLCO will be in a better position to meet any shortfall in debt for financing the City of Dreams Mediterranean project in Cyprus. We estimate the project will raise about €430 million of external debt, and expect any additional financing needs or shortfall

  
Report Type:

Bulletin

Issuer
Melco Resorts (Macau) Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Region
Latin America
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing" Jun 25, 2019. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Consolidation-Of-Cyprus-Project-Into-Melco-Resorts-Entertainment-Will-Help-Project-Financing-2255645>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Consolidation Of Cyprus Project Into Melco Resorts&Entertainment Will Help Project Financing Jun 25, 2019. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Consolidation-Of-Cyprus-Project-Into-Melco-Resorts-Entertainment-Will-Help-Project-Financing-2255645>
  
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