Moody’s eyes Everi for upgrade

Moody’s Investors Service said it placed Everi Holdings Inc.’s rating on review for upgrade, including its B1 corporate family rating, B1-PD probability of default rating, Ba2 rating on its outstanding senior secured first-lien revolving credit facility due 2026, Ba2 rating on its senior secured first-lien term loan B due 2028, and B3 rating on its senior unsecured global notes due 2029. The SGL-2 speculative grade liquidity rating remains unchanged. Previously, the outlook was stable.

On Feb. 29, Everi and International Game Technology plc announced Everi agreed to combine with IGT’s global gaming and playdigital units. Everi plans to refinance its debt in conjunction with this deal. The company expects the transaction to close in late 2024 or early 2025.

Moody's said it will analyze the combined business' operating performance and integration, financial strategy, capital structure, and liquidity after the deal closes.

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