BUZZ-S&P upgrades Australia's Aristocrat on scale and cash‑flow strength

Reuters
Feb 06
BUZZ-S&P upgrades Australia's Aristocrat on scale and cash‑flow strength

** S&P Global upgrades Aristocrat Leisure's ALL.AX rating, citing slot-machine maker's expanded scale and robust cash‑flow generation

** Lifts long‑term issuer credit rating to ‘BBB’ from ‘BBB-’ and upgrades the associated issue ratings on its $500 million unsecured revolving credit facility and $1.1 billion term loan A

** ALL's expanding scale, sustained earnings growth, strong free‑cash‑flow generation and low leverage collectively underpin its strengthened credit profile - S&P

** Expects ALL's dominant land‑based gaming share and its expanding online real‑money gaming arm to drive solid earnings growth and continued EBITDA margin expansion

** S&P anticipates ALL will continue prioritising investments that reinforce its market positions across land‑based gaming, social casino and online real‑money gaming

** Stock down 10.2% YTD as of last close

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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