S&P rates Sportradar B

S&P said it assigned a B rating to Sportradar.

“Sportradar has a solid track record of year-on-year organic revenue growth of 18%, 28%, and 34% in 2019, 2018, and 2017. This has been driven by expansion in the core betting business, an acceleration in managed trading services while bookmakers continue to shift to outsourced platforms, and high growth in the U.S. market following the legalization of sports betting in some states,” S&P said in a press release.

The agency also assigned a B rating to Sportradar’s €420 million term loan. In October, the agency assigned a preliminary B rating to the loan.

S&P assigned a stable outlook. “The stable outlook assumes Sportradar will report solid year-on-year organic revenue growth of around 10% in 2021 after a low-single-digit decline in 2020 while maintaining S&P Global Ratings-adjusted EBITDA margins of 16%-20%,” S&P said.

© 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.