This downgrade reflects growing concerns over YNH's weak liquidity position and further delays in the sale of assets, which is much-needed for cash infusion.
Despite profit rising to RM13.
KUALA LUMPUR (Dec 4): S&P Global Ratings has today downgraded its long-term issuer credit rating on Genting Bhd to 'BBB+' from 'A-' in anticipation that the hotel and casino operator's leverage will increase, amid an expected weakening in cash flow adequacy over the next 12 to 18 months, given the company's aggressive expansion plans.
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