Moody's assigns GVC revolver Ba2

Moody's Investors Service said it assigned a Ba2 rating to GVC Holdings plc's new £535 million senior secured revolving credit facility.

The new revolver replaces the company's £550 million RCF under slightly amended terms including a relaxed financial maintenance covenant, Moody’s said.

GVC's other ratings, including the Ba2 corporate family rating, the Ba2-PD probability of default rating and the Ba2 instrument ratings on its senior secured loans remain unchanged.

The outlook is negative.

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