Fitch rates GVC Holdings BB+

Fitch Ratings said it assigned an expected long-term issuer default rating of BB+ to GVC Holdings plc with stable outlook.

Fitch also said it assigned an expected senior secured debt rating of BB+.

The final ratings will be contingent on completion of GVC's takeover of Ladbrokes Coral Group plc, which is currently expected to be completed by the second quarter of 2018, Fitch said.

The ratings reflect GVC's solid business risk profile and enhanced geographic diversification with more than 90% of revenues generated from locally regulated or taxed markets, the agency said.

The enlarged company will enhance the group's ability to improve brand and product awareness, Fitch said, as well as customer retention through enhanced multi-channel and marketing initiatives.

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