Moody’s flags financial strain risk in Genting’s proposed $1.6bn bid
Genting Berhad’s proposed $1.6 billion takeover of Genting Malaysia could strain its finances, Moody’s warned, prompting a downgrade review of the operator. Analysts also raised the possibility of a worse assessment if Genting does not secure a New York casino licence; the acquisition remains proposed.
The proposed acquisition and potential rating change bear on Genting’s financing risk and its ability to pursue a New York casino licence.