Rephrase single title from this title Moody’s downgrades Genting Bhd and two subsidiaries . And it must return only title i dont want any extra information or introductory text with title e.g: ” Here is a single title:”

Write an article about

Move reflects Malaysian giant’s ‘already-weak position’ due to prolonged deleveraging amid slow earnings recovery, says ratings agency

[SINGAPORE] Ratings agency Moody’s has on Monday (Dec 8) downgraded Genting Bhd and two of its subsidiaries, following a review that started in October.

Genting Bhd, which is listed on Bursa Malaysia, has been downgraded to Baa3 from Baa2.

The rating of investment holding company Genting Overseas Holdings, which is the holding entity for the parent company’s stake in Genting Singapore, was also cut by one notch to Baa3. This means that the senior unsecured notes issued by Genting Overseas Holdings have been downgraded by the same.

Singapore Exchange-listed Genting Singapore’s rating was similarly revised downwards to Baa1 from A3.

“The ratings downgrade reflects Genting Bhd’s already-weak position due to prolonged deleveraging amid slower-than-expected earnings recovery, further strained by increased debt to fund its takeover offer for Genting Malaysia Bhd and expected spending following the potential award of a downstate New York City commercial casino licence,” said Anthony Prayugo, an analyst at Moody’s.

Moody’s added that the outlook on all ratings are stable, and that this reflects its expectation that earnings will continue to improve at Genting Bhd’s operations in Singapore and Las Vegas.

SEE ALSO

Execution risk for its downstate New York City project is also expected to remain minimal, such that the project will be earnings accretive by the second half of 2026, which would support a recovery in credit metrics. The ratings agency also believes that the group will not undertake any additional debt-funded expansion projects.

Shares of Genting Singapore closed flat on Monday at S$0.735.

Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

in html format .Organize the content with appropriate headings and subheadings ( h2, h3, h4, h5, h6). Include conclusion section and FAQs section with Proper questions and answers at the end. do not include the title. it must return only article i dont want any extra information or introductory text with article e.g: ” Here is rewritten article:” or “Here is the rewritten content:”