Fitch downgrades Genting Berhad to BBB- as casino spending weighs
Fitch Ratings lowered Genting Berhad’s long-term issuer default rating to BBB- from BBB, with a stable outlook, citing casino expansion spending in New York and Singapore and a slower earnings ramp-up in New York. Fitch expects average annual capital expenditure of MYR9.2 billion between 2026 and 2028, while net leverage is forecast to remain above 4.0 times for the next three years.
The downgrade and leverage outlook affect investor assessments of Genting Berhad’s credit risk and expansion funding.