Aristocrat debt rating outlook stable, according to S&P, Moody’s

    Aristocrat Entertainment said ratings agency Standard & Poor’s has assigned a BB rating to the company’s debt, with a stable outlook, while Moody’s has assigned a corporate family rating of (P) BA2, also with a stable outlook.
    In a filing with the Australian Stock Exchange, the company said the ratings will support its fully underwritten U.S. term loan facility in connection with its acquisition of Video Gaming Technologies.
    Aristocrat confirmed its $1.28 billion acquisition of VGT in July to expand in the U.S.
    VGT mostly provides Class II gaming machines for the leased tribal market, with an installed base of 20,200 machines. It is headquartered in Tennessee and employs about 610 staff. For 2013, the company reported revenue of $236 million.
    Aristocrat said the acquisition is expected to provide a “low-mid teens” boost to earnings.