Moody’s changes SJM outlook to stable

Moody’s Investors Service said it changed its outlook for SJM Holdings Ltd. and Champion Path Holdings Ltd. to stable from negative.

"The outlook change to stable from negative reflects our expectation that SJM's financial leverage will improve significantly in the next 12-18 months, driven by a robust recovery of the gaming market in Macao SAR, China, as well as the ramp-up of the company's new property," said Gloria Tsuen, a Moody's vice president and senior credit officer, in a press release.

The agency also affirmed SJM’s Ba3 corporate family rating and the B1 rating on the backed senior unsecured bonds issued by Champion Path and guaranteed by SJM.

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