Business
Why the Crown (ASX:CWN) share price is dropping lower again today
In late afternoon trade the Crown Resorts Ltd (ASX: CWN) share price is on course to end the week in the red.
The casino and resorts operator’s shares are currently down 1.5% to $9.32.
Why is the Crown share price dropping lower today?
Investors have been selling Crown’s shares on Friday after a leading ratings agency downgraded its issuer rating.
According to the release, Moody’s Investors Service has informed the company that it has downgraded its issuer rating from Baa2 to Baa3.
Furthermore, the ratings agency has advised Crown that the Baa3 rating remains on review and could still be downgraded again in the future.
In light of this downgrade, Crown has revealed that there will be an increase in its interest costs.
The…
-
Noosa News9 hours agoWoman dead and man rushed to hospital with gunshot wound following crash near Aussie World on Queensland’s Sunshine Coast
-
General15 hours agoBoy dies after being trapped between rocks off NSW beach
-
Noosa News15 hours agoFarmer Fred Perry’s 30-year conservation project creates bird haven after years of ‘bashing and burning’
-
Noosa News15 hours agoDetectives continue to search for answers on Crystal Beale’s death