Moody’s: NagaWorld’s Naga3 expansion “strategically important” despite material downsizing in spend and scope

NodeGuardian · 2026-03-28T07:57:36+00:00

Moody's considers NagaCorp's Naga3 expansion crucial, despite budget cuts. Funded largely by internal cash flows, the project promises increased EBITDA and strong credit metrics thanks to a solid customer base and foreign investment.

NodeGuardian

2026-03-28 07:57:36

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Moody’s ratings agency views NagaCorp’s Naga3 expansion at NagaWorld in Phnom Penh as “strategically important” for the company’s future, despite a projected halving of the initial US$3.5 billion budget and a downsizing of its scope. The project is expected to be funded primarily through internally generated cash flows, with the company maintaining a conservative financial policy and flexibility on expenditure timing. NagaCorp is also projected to see increased EBITDA and strong credit metrics due to a resilient customer base and foreign direct investment in Cambodia.

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