S&P alters Sazka view to stable

S&P said it revised Sazka Group AS’ outlook to stable from negative and affirmed all its ratings, including the B+ issuer rating.

The agency said it forecasts a gradual recovery for the company this year with an acceleration in the second half aided by cost-cutting measures last year.

“The stable outlook reflects our view that the group will reduce adjusted leverage to below 4x, supported by a solid operating performance across its subsidiary businesses, successfully weathering government restrictions on any of its operations,” S&P said in a press release.

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