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Research Update: Genting Bhd. Placed On CreditWatch Negative After Winning Bid For Sentosa Integrated Resort

Published Dec 11, 2006

751 words — Published Dec 11, 2006

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Abstract:

On Dec. 11, 2006, Standard&Poor's Ratings Services placed its 'BBB+' long-term corporate credit ratings on Malaysia-based resort and gaming group Genting Bhd. (Genting) on CreditWatch with negative implications, following the announcement that Genting International PLC (Genting International), jointly with Star Cruises Ltd. (Star Cruises; BB-/Watch Neg/--), has won the Singapore dollar (S$) 5.2 billion (US$3.3 billion) bid to build Singapore's second integrated resort on Sentosa Island. At the same time, the 'BBB+' issue ratings on Prime Holdings (Labuan) Ltd.'s US$300 million senior unsecured notes due 2014, and Prime Venture (Labuan) Ltd.'s US$300 million senior unsecured notes due 2008, both of which are guaranteed by Genting, are also placed on CreditWatch with negative implications. The placement of the ratings

Brief Excerpt:

RESEARCH Research Update: Genting Bhd. Placed On CreditWatch Negative After Winning Bid For Sentosa Integrated Resort Publication date: 11-Dec-2006 Rationale On Dec. 11, 2006, Standard & Poor's Ratings Services placed its '###+' long-term...

Report Type:

Research Update

Ticker

GENT@MK

Issuer

Genting Bhd.

GICS

Casinos & Gaming (25301010)

Sector

Global Issuers

Country

Malaysia

Region

Emerging Markets

Format:

HTML

Ratings On Genting, Star Cruises And NCL Remain On CreditWatch Negative – 2007/04/11 – US$ 150.00

Research Update: Ratings On Genting, Star Cruises And NCL Remain On CreditWatch Negative – 2007/04/11 – US$ 225.00

Rating On Genting Bhd. Lowered To 'BBB' From 'BBB+' With Stable Outlook; Off Watch – 2007/12/19 – US$ 150.00

Research Update: Rating On Genting Bhd. Lowered To 'BBB' From 'BBB+' With Stable Outlook; Off Watch – 2007/12/19 – US$ 225.00

Genting Bhd. – 2008/01/11 – US$ 500.00

Genting Bhd. Placed On CreditWatch Negative After Winning Bid For Sentosa Integrated Resort – 2006/12/11 – US$ 150.00

Genting Berhad – 2006/09/14 – US$ 500.00

Summary: Genting Berhad – 2006/09/14 – US$ 225.00

Ratings On Genting Affirmed Despite Expected Increase In Gearing To Part-Finance Acquisition – 2006/09/13 – US$ 150.00

Research Update: Genting Ratings Affirmed Despite Expected Increase In Gearing To Part-Finance Acquisition – 2006/09/13 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Research Update: Genting Bhd. Placed On CreditWatch Negative After Winning Bid For Sentosa Integrated Resort" Dec 11, 2006. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Genting-Bhd-Placed-On-CreditWatch-Negative-After-Winning-Bid-For-Sentosa-Integrated-Resort-550531>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Genting Bhd. Placed On CreditWatch Negative After Winning Bid For Sentosa Integrated Resort Dec 11, 2006. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Genting-Bhd-Placed-On-CreditWatch-Negative-After-Winning-Bid-For-Sentosa-Integrated-Resort-550531>

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