Moody's assigns Ba1 to Aristocrat loan

Moody's Investors Service said it assigned a Ba1 rating to Aristocrat Technologies, Inc.'s expected seven-year $500 million senior secured term loan B.

Aristocrat Technologies is a wholly owned subsidiary of Aristocrat Leisure Ltd. Aristocrat's Ba1 corporate family rating and stable outlook are unaffected. The existing Ba1 senior secured credit facility ratings of Aristocrat International Pty Ltd. are also unaffected, the agency said.

“The Ba1 rating on the new proposed senior secured term loan is in line with Aristocrat's Ba1 CFR and the Ba1 rating on the group's current senior secured credit facilities,” Moody’s said in a press release.

Aristocrat plans to use the proceeds, a five-year $1.35 billion senior secured term loan A and a $500 million revolver to refinance its debt.

The outlook is stable.

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