Genting downgraded again amid rising leverage

FITCH Ratings’ recent downgrades of Genting Bhd, Genting Overseas Holdings Ltd, Resorts World Las Vegas LLC and, subsequently, Genting Malaysia Bhd have put the group’s rising leverage and aggressive expansion plans under the spotlight once more.

Fitch expects Genting’s leverage levels to remain stretched as the group pours billions into Resorts World New York City and Resorts World Sentosa 2.0.