Fitch ups Inspired Entertainment

Fitch Ratings said it upgraded Inspired Entertainment, Inc.'s long-term issuer default rating to B- from CCC+ and existing senior secured debt instrument ratings to B/RR3/70% from B-/RR3/70%.

“The upgrade reflects our expectations of improved credit metrics in 2022 and beyond, with funds from operations (FFO) adjusted gross leverage returning to below 6x. This follows a reopening of gaming and leisure venues during 2Q 2021 and limited but sufficient liquidity to accommodate a gradual recovery until free cash flow (FCF) turns positive in 2022. We do not incorporate further venue closures in our rating case,” Fitch said in a press release.

The outlook is stable.

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