Moody’s ups Aristocrat Leisure, facilities to Ba1

Moody's Investors Service said it upgraded Aristocrat Leisure Ltd.'s corporate family rating to Ba1 from Ba2.

The agency also upgraded the senior secured term loan facility and revolving credit facility ratings of Aristocrat International Pty Ltd. to Ba1 from Ba2.

The outlook is stable.

"The ratings upgrade reflects the very strong operational performance delivered by Aristocrat across all of its product lines and geographical segments in FY2016," Moody's vice president and senior credit officer Matthew Moore said in a news release.

"The material earnings growth achieved in the year, combined with the application of free cash flow to debt reduction, has allowed the company to achieve strong credit metrics in line with the higher rating level."

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