If Genting doesn’t try to take on any more projects in the near future, it should be safe, asserts credit rating agency Fitch Ratings, Inc. The firm reports that the company has the liquidity to fund current projects, such as Resorts World Las Vegas (RWLV) in the U.S. and another in Singapore, but if it takes on any more, its deleveraging trajectory could be taken off course.

Genting announced yesterday that it had completed the issuance of $1 billion in debt to complete and open RWLV. That debt was issued through senior notes that will come due in 2029 and which offer an interest rate of 4.625%. They were supplied directly by the wholly-owned Genting subsidiary RWLV LLC and RWLV Capital Inc.

In conjunction with the issuance of the notes, Genting closed $1.6 billion in senior secure credit facilities, which included a $400-million term loan and a $1.2-billion revolving credit facility.

Fitch now states that the long-term issuer default rating and unsecured rating of RWLV is A- and that the venture has a stable outlook. It also gave an A- rating to the proposed senior secured revolver and term-loan facilities.