{"id":23294,"date":"2021-10-05T13:35:31","date_gmt":"2021-10-05T16:35:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23294"},"modified":"2026-04-23T15:02:53","modified_gmt":"2026-04-23T18:02:53","slug":"genting-outlook-could-be-upgraded-in-six-to-nine-months","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-outlook-could-be-upgraded-in-six-to-nine-months","title":{"rendered":"Genting outlook could be upgraded in six to nine months"},"content":{"rendered":"\n<p>Fitch Ratings has reported that Genting&#8217;s outlook could be upgraded from negative to stable if the vaccination rate continues to rise in its key markets.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Malaysia.- <strong>Fitch Ratings has kept Genting&#8217;s credit outlook at \u201cBBB-\u201d\u00a0<\/strong>due to uncertainty surrounding the Covid-19 pandemic but says that<strong> could change in the next six to nine months<\/strong>\u00a0if vaccination rates in key markets remain on track.<\/p>\n\n\n\n<p>According to Fitch,\u00a0<strong>Genting is expected to reduce its leverage level from six times this year<\/strong>\u00a0to four times in 2022 and three times in 2023.\u00a0It is also expected that comprehensive EBITDA will reach 80 per cent of 2019 levels in 2022 and full recovery in 2023.\u00a0<\/p>\n\n\n\n<p>Analysts said: &#8220;We may revise the Outlook to Stable in the next six to nine months,<strong>\u00a0if Genting builds a longer track record of operational stability<\/strong>, and demonstrates it is able to deleverage in line with our expectations.&#8221;<\/p>\n\n\n\n<p>Fitch says that this year <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-h2-earnings-to-be-similar-to-h1-analysts-say\">Genting Singapore<\/a>, which operates Resorts World Sentosa, has reached only about 40 per cent to 50 per cent of revenue when compared to pre-pandemic levels, mainly due to local demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch Ratings has reported that Genting&#8217;s outlook could be upgraded from negative to stable if the vaccination rate continues to rise in its key markets.<\/p>\n","protected":false},"author":176,"featured_media":18485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Fitch Ratings maintains Genting's \"BBB-\" credit outlook but indicates a potential upgrade to stable within 6-9 months, contingent on rising vaccination rates and sustained operational stability in key markets. The report projects significant deleveraging and EBITDA recovery to 2019 levels by 2023, despite current revenue shortfalls at Genting Singapore's Resorts World Sentosa.","focusai_entities":"Fitch Ratings, Genting, Genting Singapore, Resorts World Sentosa","focusai_location":"Malaysia, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting's Deleveraging Strategy?","query":"What specific operational efficiencies or asset divestitures are anticipated to drive Genting's projected deleveraging from 6x to 3x by 2023, and how might this impact future capital expenditure for its gaming verticals?"},{"label":"Regional Recovery Disparity?","query":"Given Genting Singapore's current revenue at 40-50% of pre-pandemic levels, what are Fitch's specific assumptions regarding the pace of international tourism recovery versus domestic demand in key markets like Malaysia and Singapore, and how does this inform the overall EBITDA recovery projection?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23907],"class_list":["post-23294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23294"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23294\/revisions"}],"predecessor-version":[{"id":23305,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23294\/revisions\/23305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18485"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}