S&P gives BB to Playtech notes

S&P said it assigned its BB long-term issuer credit rating to Playtech plc.

At the same time, S&P assigned a BB issue rating to the proposed €530 million of senior secured notes. This is based on a recovery rating of 3, indicating an expectation of meaningful (50%-70%; rounded estimate: 65%) recovery prospects in the event of a payment default.

“The rating takes into account Playtech's established position as the leading provider of online software, content, and services to gaming operators,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.