S&P lifts Intralot to B+

Standard & Poor's said it raised its long-term corporate credit rating on Intralot SA to B+ from B- and removed the rating from CreditWatch, where it was placed it with positive implications on June 17.

At the same time, S&P affirmed its B+ issue rating on the €325 million senior unsecured notes issued by Intralot Finance Luxembourg SA, a 100% indirect subsidiary of Intralot.

S&P said the upgrade reflects its view of Intralot's improved liquidity and financial flexibility following the completion of its debt refinancing plan. As part of the plan, Intralot issued €325 million in unsecured notes, the proceeds of which were used to repay all of its debt maturing in 2013 and part of its debt maturing in 2014.

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