CreditSights: Genting Bhd rights issue a positive but small step towards deleveraging

Financial research firm CreditSights says it views Genting Bhd’s newly announced rights issue positively from a credit standpoint but noted the improvement to credit metrics is modest. In a Tuesday note, CreditSights observed that the right issue, which aims to raise MYR1.25 billion (US$306 million) , marks a “welcome shift away” from the group’s traditional reliance on debt funding and “signals shareholders’ willingness to share the deleveraging burden.” This comes with the group holding MYR26.1 billion (US$6.4 billion) in net borrowings as of 31 March 2026 and major capex commitments that include its US$5.5 billion expansion of Resorts World New…