Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering - S&P Global Ratings’ Credit Research

Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering

Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering - S&P Global Ratings’ Credit Research
Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering
Published Aug 15, 2017
3 pages (1078 words) — Published Aug 15, 2017
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Abstract:

HONG KONG (S&P Global Ratings) Aug. 16, 2017-- S&P Global Ratings said today that its corporate credit ratings and outlook on Macau-based casino operator Studio City Co. Ltd. (BB-/Negative/--) are not immediately affected by Studio City International Holdings Ltd.'s (SCIH) recent confidential filing for a possible initial public offering (IPO). SCIH is the holding company of Studio City. We see high uncertainty on the timing and likelihood of completion of the proposed IPO. The transaction is still at a very preliminary stage, and its execution will take time and depend on the market conditions. Nevertheless, if the IPO were completed, this would diversify funding channels for the casino company. We continue to expect Melco Resorts&Entertainment Ltd. (MLCO) to

  
Brief Excerpt:

...HONG KONG (S&P Global Ratings) Aug. 16, 2017-- S&P Global Ratings said today that its corporate credit ratings and outlook on Macau-based casino operator Studio City Co. Ltd. (##-/Negative/--) are not immediately affected by Studio City International Holdings Ltd.'s (SCIH) recent confidential filing for a possible initial public offering (IPO). SCIH is the holding company of Studio City. We see high uncertainty on the timing and likelihood of completion of the proposed IPO. The transaction is still at a very preliminary stage, and its execution will take time and depend on the market conditions. Nevertheless, if the IPO were completed, this would diversify funding channels for the casino company. We continue to expect Melco Resorts & Entertainment Ltd. (MLCO) to retain control over Studio City, and that Studio City will remain a strategically important subsidiary of the MLCO group over the next 12 months. Our assessment is underpinned by Studio City's operation under Melco Crown (Macau)...

  
Report Type:

Bulletin

Issuer
Studio City Co. Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Country
British Virgin Islands
Region
Latin America
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering" Aug 15, 2017. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Studio-City-Co-Ltd-Ratings-Not-Immediately-Affected-By-A-Potential-Initial-Public-Offering-1901248>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Studio City Co. Ltd. Ratings Not Immediately Affected By A Potential Initial Public Offering Aug 15, 2017. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Studio-City-Co-Ltd-Ratings-Not-Immediately-Affected-By-A-Potential-Initial-Public-Offering-1901248>
  
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