Moody’s lifts Lottomatica

Moody's Investors Service said it raised Lottomatica SpA’s senior secured notes, including the €340 million of senior secured notes, the €300 million of senior secured floating rate notes, the €575 million of senior secured notes all due 2025, and the €350 million of senior secured notes due 2027, to Ba3 from B1.

In the same rating action, the agency assigned a Ba3 corporate family rating and a Ba3-PD probability of default rating to Lottomatica Group SpA, the parent of Lottomatica. Moody’s said it will withdraw the B1 CFR and B1-PD PDR for Lottomatica SpA.

“The rating action is driven by the completion of Lottomatica's initial public offering (IPO) on the Italian stock market and subsequent debt repayment of €500 million. This concludes the review for upgrade initiated by Moody's on April 17, 2023,” the agency said in a press release.

The outlook is stable.

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