Inspired Entertainment announced that Moody's Investors Services has upgraded Inspired's corporate rating to B2 with a positive outlook from a previous rating of B3 with a stable outlook.
According to Inspired, this positive rating is synonymous with Moody's expecting top-line growth and its leverage will trend rapidly downwards over the next 12 to 18 months.
More specifically, Moody's Investors Services noted: "Inspired has experienced a strong rebound in revenues since the lifting of Covid restrictions related to betting shops especially in the UK. Despite the trends towards online gaming and betting, the Company's gaming machines remain an appealing form of entertainment. Additionally, the Company's good growth in its online offering demonstrate Inspired's ability to generate high quality content, which is a key differentiator for the company."
In addition to upgrading the Company's corporate rating, Moody's upgraded Inspired's senior secured global notes rating to B2 from B3 and upgraded the company's probability of default rating to B2-PD from B3-PD. The outlook for both has also changed from stable to positive.
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