Fitch places Intralot on positive watch

Fitch Ratings said it placed Intralot SA's CCC+ long-term issuer default rating and CCC senior secured rating on the 2024 notes issued by Intralot Capital Luxembourg SA on rating watch positive.

“The RWP reflects upon Intralot's improving operating performance, resulting in organic deleveraging in 2022 that Fitch expects to continue in 2023. In our view, stronger leverage metrics improve Intralot's ability to refinance its upcoming 2024 debt maturities. Subject to the completion of the 2024 notes refinancing, we believe Intralot's credit profile will be commensurate with a B- rating, based on our current rating case to 2026, resolving the RWP,” the agency said in a press release.

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