Lottomatica snr unsecured ratings affirmed;corp family rating withdrawn: Moody's |
|
|
|
Published
:
Mon, 26 Mar 2007 19:08
|
LONDON (AFX) - Moody's Investors Service has affirmed its Baa3 senior unsecured guaranteed ratings on Lottomatica SpA, citing its leading market share as an operator and supplier of online lottery systems, its solid profitability metrics and its ability to win profitable new contracts and extend existing contracts.Moody's said it has withdrawn its Baa3 Corporate Family Rating (CFR) and Ba1 Issuer Rating on Lottomatica, reflecting Moody's practice of rating only specific debt instruments of investment grade companies.The current ratings incorporate Moody's expectation that above average net debt/EBITDA will improve over the next 12 months to at least 3.0 times.Other key rating considerations include slow growth of lottery sales domestically, higher growth prospects internationally, and spending for growth initiatives including potential acquisitions.The stable outlook reflects a modest growth outlook for lottery sales and Moody's expectation that Lottomatica will manage its growth strategy in the context of an investment grade rating.newsdesk@afxnews.comjsaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Moody's downgrades Abitibi and Bowater 