14.01.2016 19:31:00
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Gala Group Finance Plc -- Moody's upgrades Gala's CFR to B1; stable outlook
London, 14 January 2016 -- Moody's Investors Service has today upgraded UK gaming company Gala Electric Casinos Plc (GEC)'s corporate family rating (CFR) to B1 from B2, and its probability of default rating (PDR) to B1-PD from B2-PD. Concurrently, the rating agency upgraded the rating of the GBP275 million senior notes due 2019 (GBP175 million outstanding) to B3 from Caa1 and the rating of the GBP350 million senior secured notes due 2018 (GBP88 million outstanding) issued by Gala Group Finance Plc to Ba3 from B1. The outlook on all ratings is stable.