Moody's assigns B1 to Lottomatica notes

Moody's Investors Service said it assigned a B1 rating to the planned €350 million of senior secured notes to be issued by Lottomatica SpA (previously Gamenet Group SpA).

Concurrently, Moody's affirmed Lottomatica's B2 corporate family rating, its B2-PD probability of default rating, and the B1 ratings on the €340 million of backed senior secured notes, the €300 million of backed senior secured floating-rate notes and the €75 million of backed senior secured global notes all due 2025, issued by Gamma Bidco SpA.

Finally, the agency affirmed the Caa1 instrument rating on the €400 million of backed senior secured PIK Toggle notes due 2026 issued by Gamma Bondco Sarl, a holding company of Lottomatica.

The proceeds will be used to finance acquisitions.

The outlook remains stable.

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