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S&P puts Stars Group on CreditWatch positive
S&P said it placed all of the Stars Group Inc.’s ratings on CreditWatch with positive implications on news the company will merge with Flutter Entertainment Inc.
“On a pro forma basis, Flutter will own about 55% of the combined company. As a result, we expect Flutter’s consolidated adjusted debt-to-EBITDA to be about 3.5x-4.0x at close of the transaction, which is about 2.0x lower than our expectation for TSG,” said S&P in a press release.
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