Moody's Investors Service downgraded Malaysian conglomerate Genting Bhd to 'Baa3' from 'Baa2'. The action followed a review initiated by the ratings agency in October. Moody's also lowered subsidiary Genting Overseas Holdings to 'Baa3', while Genting Singapore saw its rating revised to 'Baa1' from 'A3'. The downgrade reflects Genting's weakened financial position, stemming from a slower-than-anticipated earnings recovery and prolonged deleveraging. Increased debt further strains the company's finances, funding the takeover offer for Genting Malaysia and anticipated spending connected to a potential New York casino license. The outlook on all the ratings remains stable.