Inspired Announces Credit Ratings Upgrade
NEW YORK, March 27, 2023 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Fitch Ratings ("Fitch") has upgraded Inspired's corporate rating to 'B' from 'B-'. The outlook for the rating is stable. In addition, Fitch upgraded Inspired's senior secured global notes rating two notches to 'BB-' from 'B'.
In upgrading the credit ratings Fitch cited, "Inspired's sustained high profitability that translates into free cash flow generation capacity and sound organic deleveraging" and a "solid financial profile." According to the report from Fitch, the improved ratings reflect Fitch's view of improved profitability driven by increasing margins, lower gross leverage and strong results across all segments of the business.
About Inspired Entertainment, Inc. (Nasdaq: INSE)
Inspired 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 amusement entertainment solutions with a total installed base of more than 16,000 terminals. Additional information can be found at www.inseinc.com.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "will," "would" and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired's management's current expectations and beliefs, as well as a number of assumptions concerning future events. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired's control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired's views as of any subsequent date and Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. You are advised to review carefully the "Risk Factors" section of Inspired's annual report on Form 10-K for the fiscal year ended December 31, 2021, and in subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission's website at www.sec.gov and on Inspired's website at www.inseinc.com.
Contacts:
Investor Relations
IR@inseinc.com
+1 646 277-1285
For Press and Sales
inspiredsales@inseinc.com
www.inseinc.com
@Inspired_News
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SOURCE Inspired Entertainment, Inc.
