Standard&Poor's has revised the outlook on its rating of SkyCity Entertainment Group Ltd to positive from stable.The credit rating company affirmed its BBB minus long-term corporate credit rating on the casino company and said it could be raised to B
Standard&Poor's has revised the outlook on its rating of SkyCity Entertainment Group Ltd to positive from stable.
The credit rating company affirmed its BBB minus long-term corporate credit rating on the casino company and said it could be raised to BBB in the next 12 to 18 months if business prospects did not worsen.
SkyCity's financial policy stance was more conservative because of a reduction in prospective credit risks that management would tolerate.
An equity raising and the sale of its non-core cinema business had significantly improved the group's balance sheet and debt profile.
