S&P revises OPAP view to negative

S&P said it revised the outlook for OPAP SA to negative from stable after the agency revised the outlook for OPAP’s parent Sazka Group AS to negative.

“The negative outlook reflects our view that we could lower the ratings on OPAP in the next 12 months if Sazka's S&P Global Ratings-adjusted debt to EBITDA increased above 4x and funds from operations (FFO) to debt dropped below 20% on a sustainable basis,” said S&P in a press release.

S&P affirmed OPAP’s BB- rating.

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