S&P turns Everi view to positive

S&P said it changed Everi Payments Inc.’s outlook to positive from negative and affirmed all its ratings, including the CCC+ ratings on its senior unsecured notes.

“The positive outlook reflects Everi's stronger than expected operating recovery, despite the Covid-19 pandemic and our belief that leverage, will continue to improve over the next 12 months. The outlook revision reflects our forecast for adjusted leverage to improve below 5x in 2021 from 7.5x at the end of 2020. The company has outperformed our recovery expectations since casinos began reopening in the second quarter of 2020,” the agency said in a press release.

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