Fitch assigns Entain loan BB+

Fitch Ratings said it assigned Entain Holdings (Gibraltar) Ltd.'s and GVC Finance LLC's planned joint $750 million seven-year senior secured term loan B an expected rating of BB+ and an RR2 recovery rating.

“This is in line with its existing senior secured instrument ratings and follows the affirmation of its parent Entain plc's (Entain) long-term issuer default rating (IDR) at BB/stable on Oct. 3, 2022,” the agency said in a press release.

The proceeds will be used to fund Entain's SuperSport acquisition.

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