S&P Global Ratings: Genting under more pressure if lockdown extended

S&P said the recently imposed lockdown in Malaysia and capacity curb in Genting's two key operating countries, will likely weaken earnings and operating cash flow for the rest of first-half 2021, adding further pressure on its credit quality.

KUALA LUMPUR: The rating on Genting Bhd Genting; BBB/Negative/--) will come under further pressure if the lockdown in Malaysia and capacity restrictions in Singapore are extended, says S&P Global Ratings, as Genting cannot offset the impact through other financial means.

“Genting's delayed recovery in operations and elevated capital expenditures continue to offer thin rating headroom over the next 12-18 months.