RWS plans won't hit Genting Berhad's credit rating: Fitch

The redevelopment plan gives Genting Singapore an option to expand its gaming area and the resort's total gross floor area. Fitch believes Genting Singapore will maintain a stable dividend payout of around 3.5 cent per share during this period of hig
The redevelopment plan gives Genting Singapore an option to expand its gaming area and the resort's total gross floor area. Fitch believes Genting Singapore will maintain a stable dividend payout of around 3.5 cent per share during this period of high capital expenditure.ST PHOTO: MARK CHEONG

Genting Singapore's $4.5 billion five-year redevelopment plan at Resorts World Sentosa (RWS) will not affect the credit rating of its parent Genting Berhad, which, Fitch Ratings says, has the "liquidity, leverage and free cash flow capacity" to fund the development.

That being the case, Genting Berhad's credit rating remains unchanged at A-/Stable as the impact on its credit metrics is "manageable within its current rating", Fitch said.

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A version of this article appeared in the print edition of The Straits Times on April 11, 2019, with the headline 'RWS plans won't hit Genting Berhad's credit rating: Fitch'. Print Edition | Subscribe