Crown continues to take bad news in its stride and we’ve often talked about that being a sign of underlying strength. Today it was rating agency Moody’s that put CWN on negative credit watch, although in the same breath they said “The rating confirmation reflects our view that Crown has good potential to maintain its investment grade credit profile, and is willing and able to remediate shortcomings identified by the Bergin Inquiry in New South Wales, as well as any additional shortcomings that may be identified by regulatory investigations in other states.”
MM remains optimistic CWN
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