Fitch shifts Sazka to stable

Fitch Ratings said it revised Sazka Group as’ outlook to stable from negative and affirmed its BB- issuer default rating at BB-. Fitch also affirmed Sazka Group’s senior secured notes, previously rated as unsecured senior notes, at BB-/RR4.

“The stable outlook reflects Sazka Group’s improved leverage profile due to the increase in its stake in Casag leading to control. It also supports improvement in the business profile through larger scale and higher geographical diversification. Fitch’s current forecasts assume strong deleveraging capacity by 2023, subject to a conservative financial policy,” the agency said in a press release.

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