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Universal Entertainment's proposal to tap $140 - $150 million from a note issue will not improve its credit rating due to ongoing uncertainty over its liquidity and cash flow generation, Fitch Ratings said.
Universal Entertainment's credit rating has been cut by Fitch Ratings, which says that unless there is a significant improvement in cash flow in the second half or the company manages to raise funds, it may not be able to meet a debt payment due in December.
Moody's Investors Service said it is confirming Macau's Aa3 rating, with a stable outlook, but warned about the high concentration of its economy on gaming and tourism.
Melco Resorts & Entertainment is unlikely to return to its pre-pandemic revenue levels before 2023, but when it does its margins are likely to be better due to a higher proportion of mass-market players, according to Moody’s Investors Service.
SkyCity Entertainment's earnings are recovering faster-than-expected from the Covid crisis, said Standard & Poors in a note raising its credit outlook to stable from negative.
Macau's narrow economic base and its high concentration of tourists from China restrain the city's credit rating and have contributed to historically high levels of gross domestic product volatility, Fitch Ratings says.
Fitch Ratings has given a vote of confidence to the recovery in Macau, revising its outlook on the special administrative region to stable from negative.
Genting Malaysia's EBITDA is likely to return to its pre-pandemic levels by 2022 and reach 60 percent this year, Standard & Poor's said.
Mohegan Sun's Inspire Entertainment Resort project in Incheon, South Korea, will be a long-term positive for the group, despite the risks, Moody's Investors Service said in a periodic review of the company's credit rating.
Moody’s Investors Service has completed a periodic review of Macau’s three U.S. operators, commenting that liquidity is relatively good and their long-term prospects are credit solid despite the hit from Covid.