London, February 2, 2023 /PRNewswire/ — International Game Technology PLC (“IGT”) (NYSE: IGT) announced today that Fitch Ratings, Inc. (“Fitch”) has awarded IGT and its Subsidiary IGT Lottery Holdings BV has a BB+ long-term issuer rating with a stable rating outlook and a BBB- long-term senior secured debt rating.
According to a report published by Fitch, the issuer rating reflects IGT’s conservative leverage ratio, which has improved significantly from pre-pandemic levels, mainly due to lower funding generated through proceeds from the sale of non-core businesses and strong free cash flow. debt. The strong credit profile enables IGT to continue to fund slot machine development and shareholder returns, as well as absorb potential future cash requirements related to lottery concessions. The rating also takes into account IGT’s leading share in the core gaming end market, especially lottery.
“We are pleased to receive a first-time Fitch issuer rating of BB+ with a stable outlook and an investment-grade senior secured debt rating of BBB-,” Max Chiara, CFO or IGT. “These ratings recognize our leadership across our businesses, our history of delivering solid operating and financial performance, and our strong credit profile.”
IGT (NYSE: IGT ) is a global leader in gaming. We provide entertaining and responsible gaming experiences to players across all channels and regulated sectors, from lotteries and gaming machines to sports betting and digital. Leveraging rich and engaging content, substantial investment in innovation, player insights, operational expertise and leading technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have strong local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by upholding the highest standards of service, integrity and responsibility. IGT has approximately 10,500 employees. For more information, visit www.IGT.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain information about International Game Technology PLC and its consolidated subsidiaries (hereinafter referred to as “company“) and other matters. These statements may discuss goals, intentions and expectations regarding future plans, trends, events, dividends, results of operations or financial condition, or may be based on the current beliefs of the company’s management and otherwise act as such management assumptions made and information currently available. Forward-looking statements may be accompanied by words such as “aims,” ”anticipates,” “believes,” “plans,” “may,” “will,” “should,” “should,” ” continue”, “estimate”, “anticipate”, “forecast”, “future”, “guidance”, “intend”, “may”, “will”, “likely”, “potential”, “forecast”, “forecast” or their negative or other changes. These forward-looking statements speak only as of the date on which they were made and are subject to various risks and uncertainties, many of which are beyond the Company’s control. If Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results could differ materially from those projected in the forward-looking statements and from past results, performance or achievements. Accordingly, you do not Undue reliance should be placed on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those described in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 Factors and Risks and other documents filed with the SEC from time to time are available on the SEC website at www.sec.gov and on the Investor Relations section of the Company’s website at www.IGT.com The Company undertakes no obligation to update these forward-looking statements except as required by applicable law You should carefully consider these factors, as well as other risks and uncertainties affecting the company’s business. Nothing in this press release is intended to be, and should not be construed as, an earnings forecast, or that International Game Technology PLC’s current or the financial results for any future fiscal year will necessarily match or exceed the historically announced financial results of International Game Technology PLC’s performance, as applicable. All forward-looking statements contained in this press release are qualified by this cautionary statement. Attributed to All subsequent written or oral forward-looking statements by International Game Technology PLC or persons acting on its behalf are expressly qualified by this cautionary statement.
Phil O’ShaughnessyGlobal communications, free within the U.S./Canada +1 (844) IGT-7452; outside the US/Canada +1 (401) 392-7452
Francesco Luti+39 06 5189 9184; Italian media inquiries
James HurleyInvestor Relations, +1 (401) 392-7190
SOURCE International Game Technology Corporation