Fitch upgrades Enjoy, notes

Fitch Ratings said it upgraded Enjoy SA's issuer default rating to B+ from B and revised the outlook to stable from positive.

In addition, the agency upgraded the company’s senior unsecured notes to BB-/RR3 from B+/RR3.

Fitch said the upgrade reflects Enjoy’s strengthened capital structure and improved financial flexibility after a capital increase, along with the completion of the bidding process ending with Enjoy retaining all its licenses and adding a new one.

The ratings also factor in the longstanding and leading position of the company's operating casinos in Chile and its developing diversification in Latin America, the agency explained.

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