SINGAPORE (Standard&Poor's) Sept. 9, 2004--Standard&Poor's Ratings Services today assigned its 'BBB+' rating to Genting Berhad's proposed senior unsecured long-term notes of about US$250 million. The notes will be issued by Prime Holdings (Labuan) Ltd., and guaranteed by Genting (BBB+/Stable/--). Genting fully owns Prime Holdings. The proceeds of the issue will be used to fund the Malaysia-based conglomerate's overseas investments in its core businesses, primarily leisure and hospitality, as well as power. "The ratings on Genting benefit from the company's solid market position in its leisure and hospitality segment, some diversity in its revenue and earnings base, as well as its strong financial profile," said Standard&Poor's credit analyst Ee-Lin Tan, associate director in the Corporate
