Imperial Pacific gets two ratings downgrades

 

GARAPAN, Saipan — The ratings downgrade of Imperial Pacific International CNMI LLC made by two of the top three nationally recognized statistical rating organizations could further hurt the Hong Kong–based company’s reputation in the Northern Mariana Islands.

Best Sunshine International, Imperial Pacific’s subsidiary, owns and operates the temporary casino facility, Best Sunshine Live, at the T Galleria luxury shopping mall in Garapan.

On Jan. 11, Fitch Ratings downgraded the company’s credit rating from B(EXP) to CCC, citing “the company’s need to fund advances to customers and bear customers’ credit risk due to the lack . . .

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