Business
INSPIRED ANNOUNCES CREDIT RATING UPGRADE FROM MOODY'S
Moody's Upgrades Rating to B2 with a Positive Outlook from B3 with a Stable Outlook NEW YORK, July 14, 2022 /PRNewswire/ -- Inspired Entertainment, Inc.
About this update from Inspired Entertainment, Inc.
[{"type":"text","content":"Moody's Upgrades Rating to B2 with a Positive Outlook from B3 with a Stable Outlook\nNEW YORK, July 14, 2022 /PRNewswire/ -- Inspired Entertainment, Inc. (\"Inspired\" or the \"Company\") (NASDAQ: INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Moody's Investors Services (\"Moody's\") has upgraded Inspired's corporate rating to B2 with a positive outlook from a previous rating of B3 with a stable outlook.\n\n \n \n \n \n \n \n\n \nAccording to the report from Moody's, its positive rating outlook reflects Moody's view that, in the next 12-18 months, Inspired's quality content and the increasing penetration of its online products will continue to attract players and gamblers, driving top-line growth and its leverage will rapidly trend downwards.\n\"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,\" according to Moody's.\nIn 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 of these has also changed from stable to positive.\nAbout Inspired Entertainment, Inc. (Nasdaq: INSE)\nInspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. Inspired's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; digital games for 170+ websites; and a variety of amu...