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Moody’s downgrades Genting ratings after Malaysia takeover financing

Business

Moody’s downgraded Genting Berhad and Genting Overseas Holdings from Baa2 to Baa3, and Genting Singapore from A3 to Baa1, citing increased debt tied to the Genting Malaysia takeover offer and expected New York casino spending. The agency assigned stable outlooks and projected Genting Berhad’s adjusted debt-to-EBITDA ratio at 4.9x in 2025 and 4.8x in 2026.

The lower ratings and projected debt levels affect financing conditions for the Genting group’s casino operations and development plans.

End-of-day close Genting Berhad (3182), MYR, to 22 January 2026
Story date24 October 202522 January 2026

Related company prices

Latest reported results

Genting Singapore SGX: G13

Period ended 31 December 2025

Revenue
SGD 587.8m

Genting Malaysia Bursa Malaysia: 4715

Quarter ended 31 December 2025

Revenue
MYR 3.01bn

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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.

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