Moody's sees Genting's Resorts World Las Vegas project as credit negative

KUALA LUMPUR: Moody's Investors Service sees Genting Bhd's proposed US$4bil Resorts World Las Vegas project as credit negative as it would raise it debt level and due to execution risk.

The ratings agency said on Monday the project would further increase the group's capital expenditure (capex) over the next two years, which in turn will increase net debt leverage to around 1.0 times from 0.3 times at December 2013.