S&P cuts Intralot to B

Standard & Poor's said it lowered its long-term corporate credit rating on Intralot SA to B from B+.

The outlook is negative.

S&P said the downgrade reflects that Intralot's profit margins, which declined in 2014, fell again in the first quarter of 2015 at a slightly higher rate than previously anticipated. This was due to challenging operating conditions in selected markets, primarily Greece and Italy.

Consequently, the agency revised its business risk profile for Intralot to "weak" from "fair."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.