French retailer Casino's shares fall after Moody's downgrade.
The Asian casino arm of Wynn Resorts is looking for some quick cash to help its recovery from the coronavirus.. Moody’s gave the offering a rating of “Ba3,” explaining, “The additional.
That meant such obligations were within the upper-medium grade and subject generally to low credit risk, according to Moody’s ratings guidelines. Nonetheless the firm is dependent on a single market for its operations, and casino operations have been shuttered since the early hours of April 7 as part of Singapore’s so-called “circuit-breaker” measures to stem the spread locally of.
Del Lago Resort Casino, near Seneca Falls, opened just a week earlier than Rivers, and has fallen short of revenue projections to the point where Moody's on Jan. 10 downgraded the credit rating of.
The Wynn casino’s impact on MTGA’s revenue and earnings could hamper MTGA’s ability to manage its debt-to-earnings ratio, Moody’s concluded. Before the ratings review, MTGA's outlook was.
Moody’s rating scale, which ranges from a maximum Aaa to a minimum C, consists of 21 notches and two categories: Investment category for the financially sound companies. Speculative category for the companies with a higher risk of defaulting.
Casino has insisted its new strategy is working and its finances are in a solid position, after ratings agency Moody’s lowered the retailer’s credit rating by two further notches. Moody’s said it is downgrading Casino to a rating of Ba3, placing it three levels below the base investment grade, citing concerns about Casino’s debt levels and worsening cash flow.
Moody's recent rating actions in light of COVID-19 and low oil prices.. As the hospitality sector suffers through historic travel disruptions, in-store dining bans and casino closures needed to contain the coronavirus, issuers are facing unprecedented strains on cash flow and liquidity.