Moody's: Melco Crown Gaming view to negative

Moody's Investors Service said it revised the outlook of the Ba3 corporate family and secured debt ratings for Melco Crown Gaming (Macau) Ltd. to negative from stable.

The outlook revision has been prompted by Melco Crown Gaming's weaker-than-expected results and EBITDA for the fourth quarter of 2009 despite a largely stable gaming market in Macau, Moody's said.

The agency said the company's performance and market share improved in January 2010, but it remains uncertain whether this can be sustained in view of the modest and volatile performance of Altira Macau in the past quarters.

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