The rating agency S&P has confirmed Cirsa's debt rating at 'BB-', but anticipates an upgrade following its merger with Lottomatica. This agreement will allow Cirsa to double its scale and generate combined revenues of €5.6 billion.
The international risk rating agency S&P has announced that it expects an upgrade in the rating of the gaming group Cirsa after its merger with Lottomatica, agreed on September 2nd. According to the publication, Cirsa's debt rating remains at BB-, but the outlook has changed from stable to positive.
This change in outlook reflects the possibility that S&P will elevate Cirsa's ratings to match those of Lottomatica, which has a rating of BB. The merger is expected to generate estimated combined revenues of €5.6 billion and an adjusted EBITDA of €1.8 billion by the end of 2027, according to the agency's projections.
S&P also indicated that the operation will further strengthen Cirsa's online gaming business, which currently represents around 13% of its EBITDA, thanks to Lottomatica's technological capabilities and its experience in developing this sector.
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