S&P puts 888 on watch

S&P said it placed its B ratings for 888 Holdings plc on CreditWatch with negative implications.

The agency noted 888 recently lost its CFO and CEO, and that the company reported know-your-customer and anti-money laundering procedural failings in its Middle Eastern operations following an internal investigation.

“The CreditWatch placement indicates that we could lower our ratings on 888 Holdings in the next 90-180 days, if, after fully incorporating the latest developments into our analysis, we deem that there has been a deterioration in our management and governance assessment or in 888 Holdings' financial position that warrants a one-notch downgrade,” S&P said in a press 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.