January 15, 2021
Prominent financial services firm Moody’s Investors Service Incorporated has reportedly warned that Asian casino operator Melco Resorts and Entertainment Limited could see its consolidated debt rise by about 14.7% over the next twelve to 18 months to top $7 billion.
According to a report from Inside Asian Gaming, the American giant made the prediction yesterday while simultaneously issuing a ‘Ba2’ rating to a new $250 million bond offering being floated by the casino firm’s Melco Resorts Finance Limited subsidiary. The source detailed that this proposition is set to come due in 2029 with its proceeds being earmarked to help the operator behind the City of Dreams Macau, Studio City Macau and Altira Macau venues pay down some of its existing liabilities.