Cirsa Gaming Corporation, S.A. Credit Rating

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Date	Document Type	Title	Source
15 Jun 2018	Rating Action	Moody's assigns B1 CFR to Cirsa and B2 to the proposed new Senior Secured Notes	Moody's Investors Service
15 May 2018	Peer Snapshot	Cirsa Gaming Corporation, S.A. - December 2017 (LTM): Peer Snapshot	Moody's Investors Service
11 May 2018	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
10 May 2018	Credit Opinion	Cirsa Gaming Corporation, S.A.: Update following initiation of review for downgrade	Moody's Investors Service
04 May 2018	Rating Action	Moody's reviews Cirsa's ratings for downgrade following Blackstone acquisition announcement	Moody's Investors Service
26 Feb 2018	Announcement	Moody's: EMEA gaming sector outlook stable into 2019 on steady earnings growth	Moody's Investors Service
07 Feb 2018	Announcement	Moody's: Stable credit quality for Spanish corporates in 2018 amid economic growth and good funding conditions	Moody's Investors Service
29 Jan 2018	Peer Snapshot	Cirsa Gaming Corporation, S.A. - September 2017 (LTM): Peer Snapshot	Moody's Investors Service
11 Sep 2017	Issuer In-Depth	Cirsa S.A. and Codere S.A. : Peer Comparison: Cirsa will remain the stronger credit over the next 12-18 Months	Moody's Investors Service
08 Sep 2017	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
01 Aug 2017	Credit Opinion	Cirsa Gaming Corporation, S.A.: Update Following Q1 2017 Trading	Moody's Investors Service
04 May 2017	LGD Assessment	LGD Assessment: Cirsa Gaming Corporation, S.A.	Moody's Investors Service
06 Apr 2017	Credit Opinion	Cirsa Gaming Corporation, S.A.: Update to Discussion of Key Credit Factors	Moody's Investors Service
07 Feb 2017	Announcement	Moody's: Spanish companies' credit quality to stay stable amid favourable economic outlook	Moody's Investors Service
28 Oct 2016	Issuer Comment	Cirsa Gaming Corporation S.A.: Additional Tax in Argentina is Credit Negative for Cirsa; Ratings Unaffected	Moody's Investors Service
13 Sep 2016	Announcement	Moody's: EMEA gaming sector outlook stable into 2017 on low-but-steady earnings growth	Moody's Investors Service
19 Apr 2016	Credit Opinion	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
18 Apr 2016	Rating Action	Moody's upgrades Cirsa's CFR to B1; stable outlook	Moody's Investors Service
11 Feb 2016	Announcement	Moody's: Higher taxes to hit Italy's gaming machine operators	Moody's Investors Service
15 Oct 2015	Announcement	Moody's: Regulation will curb European high-yield gaming companies' profitability into 2016	Moody's Investors Service
17 Jun 2015	Rating Action	Moody's changes the outlook on Cirsa's B2 CFR to positive from stable	Moody's Investors Service
26 May 2015	Announcement	Moody's: Limited Spanish corporate issuance growth expected in 2015 despite robust market conditions	Moody's Investors Service
27 Apr 2015	Rating Action	Moody's assigns (P)B3 rating to Cirsa's senior unsecured notes due 2023; stable outlook	Moody's Investors Service
13 Jan 2014	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
08 Jan 2014	Rating Action	Moody's assigns B3 rating to Cirsa's tap bond offering; stable outlook	Moody's Investors Service
18 Nov 2013	Issuer Comment	Moody's: Cirsa's payments to settle Italian litigation case and extend licences in Panama significantly weaken its liquidity profile	Moody's Investors Service
20 Sep 2013	Rating Action	Moody's changes outlook on Cirsa's B2 ratings to stable from negative; affirms ratings	Moody's Investors Service
26 Apr 2013	Announcement	Moody's: Surge in bond issuance is credit positive for Spanish high-yield corporates	Moody's Investors Service
26 Apr 2013	Sector Comment	Surge in Spanish High-Yield Corporate Bond Issuance Diversifies Funding, Reduces Refinancing Risks	Moody's Investors Service
11 Feb 2013	Rating Action	Moody's assigns definitive ratings to Cirsa's EUR100 million bond	Moody's Investors Service
11 Feb 2013	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
28 Jan 2013	Rating Action	Moody's assigns (P)B3 rating to Cirsa's tap bond offering; negative outlook	Moody's Investors Service
15 Aug 2012	Company Profile	Cirsa Gaming Corporation SA	Moody's Investors Service
21 Jun 2012	Announcement	Moody's changes the outlook on Cirsa's ratings to negative	Moody's Investors Service
19 Apr 2012	Sector Comment	YPF nationalisation is credit negative for Spanish rated corporates in Argentina	Moody's Investors Service
23 Feb 2012	Sector Comment	Italian Gaming Industry: Italian Corte dei Conti ruling is credit negative for Codere and Cirsa	Moody's Investors Service
13 Jan 2011	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
13 Jan 2011	Announcement	Moody's: Cirsa's ratings unchanged following tap bond offering; outlook positive	Moody's Investors Service
10 Dec 2010	Announcement	Moody's changes to positive from stable the outlook on Cirsa's ratings	Moody's Investors Service
14 Jun 2010	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
11 Jun 2010	Rating Action	Moody's confirms ratings of Cirsa; stable outlook	Moody's Investors Service
27 Apr 2010	Rating Action	Moody's assigns (P)B3 to Cirsa's new senior notes due 2018	Moody's Investors Service
01 Feb 2010	Rating Action	Moody's places Cirsa's Corporate Family Rating on review for downgrade and maintains Cirsa's bond ratings on review for downgrade; withdraws (P)B3 rating on the notes due 2020.	Moody's Investors Service
11 Jan 2010	Rating Action	Moody's assigns (P)B3 to Cirsa's new 2020 notes; places existing bond ratings on review for downgrade; leaves corporate family rating unchanged	Moody's Investors Service
07 Apr 2009	Rating Action	Moody's changes outlook on Cirsa's ratings to negative	Moody's Investors Service
17 Jan 2008	Analysis	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
20 Sep 2007	LGD Assessment	Cirsa Gaming Corporation, S.A.	Moody's Investors Service
17 Sep 2007	Rating Action	Moody's downgrades Cirsa's CFR to B2; stable outlook	Moody's Investors Service
30 May 2007	Rating Action	Moody's reviews Cirsa's ratings for possible downgrade	Moody's Investors Service
29 Mar 2007	Rating Action	Moody's implements loss given default methodology in EMEA	Moody's Investors Service

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