SINGAPORE (Standard&Poor's) June 10, 2004--Standard&Poor's Ratings Services today raised its long-term corporate credit rating on Malaysian conglomerate, Genting Berhad, to 'BBB+' from 'BBB-'. The outlook is stable. "The upgrade is based on Genting's stable earnings as a result of its diversified business segments, improved operating environment in its core leisure and hospitality segment, and expectation that sound financial discipline will be maintained over the medium term as the group executes its growth strategy," said Standard&Poor's credit analyst Ee-Lin Tan, associate director in the Corporate and Infrastructure Ratings group. Genting's business diversity protects earnings from a downturn in its main business. Its power, plantation, and paper packaging businesses performed well in 2003, benefiting from steady
