S&P rates Scientific Games notes B-, shifts view to positive

S&P said it assigned a B- with a recovery rating of 5 to Scientific Games International Inc. planned offer of $1.2 billion in senior unsecured notes.

Proceeds, cash on hand and funds from a revolver draw are expected to be used to repay portions of the company’s capital structure, S&P said.

S&P also revised the outlook for Scientific Games Corp. to positive.

“The outlook revision to positive reflects our expectation that EBITDA growth and debt reduction will support improving leverage and increased cushion relative to our upgrade thresholds,” said S&P in a press release.

The agency affirmed all Scientific Games’ ratings.

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