Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative

Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative
Published Sep 28, 2020
8 pages (3338 words) — Published Sep 28, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe Melco Resorts&Entertainment Ltd. (MLCO) should recover its earnings in the fourth quarter of 2020, supported both by the resumption of tourism between Macau and mainland China as well as the gradual reopening of City of Dreams Manila in the Philippines. The company's financial discipline and efforts to preserve liquidity during the pandemic will continue supporting its credit profile. On Sept. 28, 2020, S&P Global Ratings affirmed its 'BB' long-term issuer credit rating on Melco Resorts (Macau) Ltd. (MRM) and the 'BB-' long-term issuer credit rating on Studio City Co. Ltd. We removed all ratings on MRM and Studio City from CreditWatch, where they were placed with negative implications on Feb. 6, 2020. The negative outlook on

  
Brief Excerpt:

...- We believe Melco Resorts & Entertainment Ltd. (MLCO) should recover its earnings in the fourth quarter of 2020, supported both by the resumption of tourism between Macau and mainland China as well as the gradual reopening of City of Dreams Manila in the Philippines. - The company's financial discipline and efforts to preserve liquidity during the pandemic will continue supporting its credit profile. - On Sept. 28, 2020, S&P Global Ratings affirmed its '##' long-term issuer credit rating on Melco Resorts (Macau) Ltd. (MRM) and the '##-' long-term issuer credit rating on Studio City Co. Ltd. We removed all ratings on MRM and Studio City from CreditWatch, where they were placed with negative implications on Feb. 6, 2020. - The negative outlook on MLCO's operating subsidiaries MRM and Studio City reflects our view that downside risks to MLCO's earnings remain, given the uncertain recovery of the tourism industry in Macau and the Philippines....

  
Report Type:

Research Update

Issuer
Melco Resorts (Macau) Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Region
Latin America
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative" Sep 28, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Melco-Resorts-And-Studio-City-Ratings-Affirmed-Removed-From-CreditWatch-Outlook-Negative-2522027>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Melco Resorts And Studio City Ratings Affirmed, Removed From CreditWatch; Outlook Negative Sep 28, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Melco-Resorts-And-Studio-City-Ratings-Affirmed-Removed-From-CreditWatch-Outlook-Negative-2522027>
  
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