Genting Bhd.'s 2010 financial results were above our expectations, reflecting the strong performance of Resorts World Sentosa in Singapore. We are raising our corporate credit rating on Genting, a Malaysia-based gaming and leisure company, to 'BBB+' from 'BBB'. We are also raising the issue rating on Genting's outstanding notes to 'BBB+' from 'BBB', and our ASEAN scale rating on Genting to 'axA+' from 'axA'. The stable outlook reflects our expectation that Genting will continue to generate strong operating cash flow and maintain an intermediate financial risk profile. On May 16, 2011, Standard&Poor's Ratings Services raised its long-term corporate credit rating on Genting Bhd. to 'BBB+' from 'BBB'. The outlook is stable. At the same time, Standard&Poor's
