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Moody’s downgrades Genting Berhad ratings over takeover and New York casino spending

Deals & M&A

Moody’s downgraded Genting Berhad and two subsidiaries, citing debt associated with the takeover of Genting Malaysia and further spending required to pursue a commercial casino licence in New York. Moody’s described Genting Berhad’s financial position as weak, while the company is expected to benefit from an early position in the New York market.

The rating cuts signal increased financial pressure as Genting Berhad funds its takeover and New York casino bid.

End-of-day close Genting Berhad (3182), MYR, to 23 January 2026
Story date27 October 202523 January 2026

Latest reported results

Genting Malaysia Bursa Malaysia: 4715

Quarter ended 31 December 2025

Revenue
MYR 3.01bn

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Funding

Genting Bhd proposes MYR1.25bn rights issue to reduce debt

Genting Bhd proposed a MYR1.25 billion rights issue in early October, primarily to reduce debt and provide working capital, the company said. Lim Kok Thay’s family undertook to subscribe for its full entitlement, representing 45% of the issue; underwriting for the balance was still to be finalised. The proposal comes as Genting pursues US$5.5 billion and US$5 billion resort projects in New York and Singapore respectively.

Genting Bhd proposed a MYR1.25bn rights issue in early October, primarily to reduce debt and provide working capital. The source valued the proposed issue at US$306m.

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