Moody's assigns Ba1 to Flutter loan

Moody's Investors Service said it assigned Flutter Financing BV’s €1 billion equivalent dollar-denominated senior secured term loan a Ba1 instrument rating. The issuer is a subsidiary of Flutter Entertainment plc.

“Flutter Financing's Ba1 proposed new senior secured term loan B instrument rating is in line with Flutter's Ba1 corporate family rating (CFR) which reflects its pari passu ranking with Flutter Financing's existing senior secured term loan B,” Moody’s said in a press release.

The proceeds will be used to partly refinance the additional debt facility of €2 billion that was used to fund the acquisition of Sisal SpA, completed on Aug. 4 for €1.91bn.

The outlook is stable.

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