...December 1, 2020 SINGAPORE (S&P Global Ratings) Dec. 1, 2020--S&P Global Ratings today said that downside risks to the rating on Genting Bhd. (###/Negative/--) have reduced. Genting's reported EBITDA returned to positive territory in the third quarter of 2020 following the partial reopening of its gaming and resorts assets in Malaysia and Singapore. We expect a slow recovery in Genting's EBITDA, considering the ongoing impact of the COVID-19 pandemic in the group's key markets. EBITDA for the third quarter of 2020 was down 44% year-over-year (YoY). Genting reported revenue of Malaysian ringgit (MYR) 3.3 billion for the quarter, down 38% YoY, but a significant improvement from MYR1.1 billion in the second quarter of 2020, driven by its leisure and hospitality segment. The company's restructuring and staff downsizing since June 2020 helped it report MYR1.1 billion EBITDA in the third quarter of 2020, compared with negative MYR579 million in the previous quarter. We expect Genting's 2020 revenue...
