Fitch revises Entain view to positive

Fitch Ratings said it revised Entain plc's (formerly GVC Holdings plc) outlook to positive from negative and affirmed the BB long-term issuer default rating. Fitch also upgraded the senior secured instrument ratings to BB+/RR2 from BB/RR3 under its new corporate recovery ratings and instrument ratings criteria and removed the instruments from under criteria observation. They were placed under observation on April 9.

“The outlook revision is driven by Entain's anticipated deleveraging towards levels that could be consistent with a BB+ IDR in 2022, supported by strong online performance and good forecast profitability despite the upcoming, and still unknown, regulatory impacts,” the agency said in a press release.

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