Moody's assigns B1 to 888 Holdings notes

Moody's Ratings said it assigned a B1 rating to the proposed issuance by 888 Holdings plc's subsidiary, 888 Acquisitions Ltd., of a new £300 million backed senior secured note with a maturity of six years and of the euro add-on to the existing B1 rated €450 million backed senior secured floating-rate notes due in 2028.

888's corporate family rating of B1 remains unchanged as well as all the instrument ratings issued by 888 Acquisitions Ltd., 888 Acquisitions LLC and William Hill Ltd.

The outlook for 888 Holdings plc, 888 Acquisitions Ltd., 888 Acquisitions LLC and William Hill remains unchanged at negative.

Moody’s said the transaction is leverage neutral and does not change Moody's expected deleveraging toward 5x by the end of 2024.

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