Studio City Co. Ltd. - S&P Global Ratings’ Credit Research

Studio City Co. Ltd.

Studio City Co. Ltd. - S&P Global Ratings’ Credit Research
Studio City Co. Ltd.
Published May 27, 2015
Published May 27, 2015
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Significant execution risk. Exposure to single-property risk. Weak short-term growth prospects and intense competition in the gaming industry in Macau. "Strategically important" subsidiary of MCE group. Tight covenant headroom because of uncertainty surrounding table allocation. High debt leverage. Likely positive free operating cash flows after the opening of Studio City toward the end of 2015. Adequate liquidity. The stable outlook on Studio City Co. Ltd. reflects our expectation that the company's integrated casino project in Macau will be on budget and will not be significantly delayed. We expect the company to remain highly leveraged over the next 12 months. The outlook also factors in ongoing managerial and financial support from Melco Crown Entertainment Ltd. (MCE) group. We could lower the

  
Report Type:

Full Report

Issuer
Studio City Co. Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Country
British Virgin Islands
Region
Latin America
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Studio City Co. Ltd." May 27, 2015. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Studio-City-Co-Ltd-1400516>
  
APA:
S&P Global Ratings’ Credit Research. (). Studio City Co. Ltd. May 27, 2015. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Studio-City-Co-Ltd-1400516>
  
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