On Sept. 9, 2004, Standard&Poor's Ratings Services assigned its 'BBB+' rating to Genting Bhd.'s senior unsecured long-term notes of about US$250 million, which will be issued by 100%-owned Prime Holdings (Labuan) Ltd. and guaranteed by Genting. The company plans to use the proceeds of the notes to fund its overseas investments in its core businesses, primarily its leisure, hospitality, and power segments. Solid market position in its main leisure and hospitality business. Strong financial profile. Some degree of revenue and earnings diversity. Single-site risk of gaming business. Operating and financial challenges associated with its cruise business. Some counterparty and expansion risks in its power business. The rating on Genting Bhd. reflects the following strengths: Solid market position in
