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Moody’s Investors Service has confirmed Crown Resorts' current issuer credit rating of Baa3, but has revised the rating outlook from review for downgrade to negative.
A January debt refinancing has had a "meaningful positive impact" on Mohegan Tribal Gaming Authority's liquidity, says Moody's Investor Services, explaining why it has upgraded its Corporate Family Rating to Caa1 from Caa2 and Probability of Default Rating to Caa1-PD from Caa2-PD.
Crown Resorts is in danger of being forced to repay more than A$175 million (US$135 million) if credit ratings agencies continue to mark down the casino empire. A junk, or “below investment grade,” rating would also make it harder and more expensive for Crown to borrow money.
Crown Resorts said that Moody's Investors Service has withdrawn its rating on a euro medium-term note program from one of its wholly owned subsidiaries.
Genting Malaysia's Resorts World New York is seen as strategically important to the group's expansion plans in the U.S. and will be a feeder market to Las Vegas, where it is building a $4.3 billion integrated resort, Fitch Ratings said.
SJM Holding's proposed senior note issue has been assigned a BB+ rating by Fitch, with a negative outlook due to its concentration on the Macau market and a weaker market position than its peers because of a lag in gaining Cotai exposure.
The New Year has brought little reprieve to Macau’s gaming operators, with analysts scaling back their expectations for the first half of 2021 amidst new outbreaks of Covid-19 across the region.
Melco Resorts & Entertainment's earnings outlook for 2021 remains sluggish due to the ongoing pandemic and movement restrictions, while its corporate debt is rising due to expansion plans, Moody's Investor Services says.
A “heightened risk of severe regulatory action” has prompted Fitch Ratings to put Crown Resorts on credit watch negative for a potential ratings downgrade.
Fitch Ratings has placed Crown Resorts on watch for a ratings downgrade, saying the New South Wales Independent Liquor & Gaming Authority probe has raised the risk of severe regulatory action, including loss of license.