Fitch rates Sazka notes BB-

Fitch Ratings said it assigned Sazka Group as’ new issue of six-year senior secured floating-rate notes due 2028 an expected BB- rating with an RR4 recovery rating.

The agency also affirmed Sazka Group's long-term issuer default rating at BB- with a stable outlook, and outstanding senior secured notes at BB-/RR4.

Sazka’s €500 million debt refinancing comprises a combined issuance of new senior 2028 secured floating-rate notes and a tap on the outstanding 2027 senior secured notes. The proceeds will be used to repay €200 million of outstanding 'Slovak bonds' and €100 million of a drawn revolving credit facility, therefore, providing added liquidity for general corporate purposes and potential bolt-on acquisitions, Fitch said.

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