Fitch rates 888 Acquisitions bonds BB-

Fitch Ratings said it assigned 888 Acquisitions Ltd.’s announced £300 million notes issue an expected senior secured rating of BB- with a recovery rating of RR3.

The rating is aligned with the ratings of the company’s existing senior secured debt instruments, the agency said.

The proceeds from the new debt issuance that include a £300 million bond and a £100 million-equivalent top-up to existing 2028 euro-denominated floating-rate notes, will be used to repay existing borrowings.

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