Moody’s assigns Sportradar, loan B2

Moody’s Investors Service said it assigned a B2 corporate family rating and a B2-PD probability of default rating to Sportradar Holding AG. Concurrently, Moody’s assigned B2 ratings to the proposed €420 million senior secured term loan B and €110 million senior secured multicurrency revolving credit facility, to be borrowed by Sportradar Capital Sarl.

The B2 issuer rating is supported by the company’s market position, well-invested proprietary technology, established relationships with key sports betting and media companies, deeply embedded workflows with customers and moderate financial policy, Moody’s said.

Up to €300 million of term loan proceeds will be used to fund near-term acquisitions, and around €120 million will be used to refinance drawn debt. “Moody’s notes that despite the majority of the proceeds being intended for acquisitions, the identity of actual acquisition targets has not been disclosed,” the agency said in a press release.

The outlook is stable.

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