Explaining the rationale, it expected a slower recovery in Genting Bhd's Malaysia and Singapore gaming operations while RWLV was also likely to ramp up slowly.
KUALA LUMPUR: S&P Global Ratings has lowered its long-term issuer credit rating on Genting Bhd
from 'BBB+' to 'BBB' and its key US subsidiary, Resorts World Las Vegas (RWLV) from 'BBB' to 'BBB-' on slow recovery prospects.
The rating agency said on Friday it lowered the long-term issue ratings on RWLV's senior secured debt and senior unsecured notes to 'BBB-' from 'BBB'. It had a negative outook for both companies.
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