On Dec. 19, 2007, Standard&Poor's Ratings Services lowered its corporate credit rating on Malaysia's gaming and leisure company Genting Bhd. (Genting) to 'BBB', from 'BBB+'. The outlook is stable. The rating is removed from CreditWatch, where it was placed on Dec. 11, 2006, with negative implications, after the announcement that Genting International PLC, a subsidiary of the company, had won the bid to build the integrated resort (IR) project at Sentosa, Singapore. At the same time, the ratings on Prime Holdings (Labuan) Ltd.'s US$300 million senior unsecured notes, and Prime Venture (Labuan) Ltd.'s US$300 million senior unsecured notes, both of which are guaranteed by Genting, have been lowered to 'BBB', from 'BBB+', and removed from CreditWatch, where they
