NagaCorp credit rating beats host Cambodia says Moody’s

NagaCorp Ltd’s credit rating of ‘B1’ reflects the “dominant position” of its casino resort NagaWorld in Phnom Penh, Cambodia, says a Wednesday update from Moody’s Investors Service Inc.

The rating also incorporates the expectation of “a recovery in NagaCorp’s operating performance in 2022 following the reopening of its casinos in September 2021 and further easing of pandemic-related restrictions given the growing vaccination coverage in Cambodia”.

Hong Kong-listed NagaCorp’s rating remains superior to Cambodia’s sovereign rating of ‘B2′, according to Moody’s.

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