Moody’s upgrades Gamesys

Moody’s Investors Service said it upgraded Gamesys Group plc’s corporate family rating to Ba3 from B1 and probability of default rating to Ba3-PD from B1-PD.

Concurrently, Moody’s also upgraded to Ba3 from B1 the ratings on the senior secured £550 million equivalent senior secured term loan B due 2024 (£510 million outstanding) and £13.5 million senior secured multi-currency revolving credit facility due 2023 borrowed by the company and Luxembourg Investment Co. 192 Sarl.

The upgrade reflects the improvement in the company’s credit profile over the past two years, and the agency’s expectation that the metrics will continue to improve over the next 18 months, Moody’s said.

The outlook is stable.

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