We expect Melco Crown's parent, MCE, to remain an important investment for Crown over the next 12 months, and we believe Crown will retain an economic and strategic incentive to provide some extraordinary support to MCE if required. We do not believe that a recent reduction in Crown's stake in MCE and a moderate ramp-up of risks at Studio City have materially changed MCE's credit profile. We are affirming our 'BB' long-term corporate credit rating and 'cnBBB-' long-term Greater China regional scale rating on Melco Crown. We are also affirming our 'BB-' long-term issue rating and 'cnBB+' long-term Greater China regional scale rating on the senior unsecured notes that the Macau-based gaming operator guarantees. The stable outlook reflects our expectation
