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StocksMedium•14 April 2026•

1 min read

Moody’s Upgrades NagaCorp Credit Rating to B2 on Strong Liquidity and EBITDA Growth

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Key Facts

1Moody's upgraded NagaCorp's corporate family rating from B3 to B2 with a stable outlook.

2Moody's expects the company to generate over $400 million in EBITDA in 2026.

Moody's Ratings has upgraded NagaCorp's corporate family rating from B3 to B2, maintaining a stable outlook for the gaming giant. The upgrade is driven by the company's robust earnings trajectory, with Moody's forecasting EBITDA to exceed $400 million by 2026. Analysts highlighted that NagaCorp maintains a strong liquidity position, providing sufficient coverage for upcoming debt maturities. Furthermore, the company’s ability to self-fund its major Naga 3 expansion project significantly mitigates long-term financial risks. This rating action underscores improved operational stability and a disciplined approach to capital management. Consequently, the upgrade is expected to bolster investor confidence in both the company's equity and its outstanding debt instruments.