巴黎人娱乐城

01Ratings

RatingActionDateType
B(EXP)Expected Rating31-Mar-2025Long Term Issuer Default Rating
Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review 鈥 No Action), please refer to the 鈥淟atest Rating Action Commentary鈥 for an explanation of key rating drivers

*Premium Content is displayed in 巴黎人娱乐城 Red

Rating History

Date :31-Mar-2025
Rating :B(EXP)
Action :Expected Rating

02Rating Actions

03Insights

04Sector Outlooks

05Securities and Obligations

Filter
Sort by
Rated Entity / Debt  
Ratings  
Entity Details  
Debt Type & Identifiers  
Other Details  
Issuer: Admiral Bidco GmbH
Debt Level: senior secured
Issue: EUR 1.85 bln Floating Euribor 4.25% Term Loan B 10-Apr-2032
31-Mar-2025
B+(EXP)
Expected Rating
Long Term Rating
RR3 57%

Rating History
Country: Germany
Sectors: Corporate Finance
Disclosures: EU Issued, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior secured; Term Loan B
Maturity Date: 10-Apr-2032
Currency: EUR
Amount: 1,850,000,000
Coupon Rate: Euribor + 4.25%
Placement: Public
Issuer: Admiral Bidco GmbH
Debt Level: senior secured
Issue: EUR 150 mln Floating Euribor 4.25% delayed draw term loan 10-Apr-2032
31-Mar-2025
B+(EXP)
Expected Rating
Long Term Rating
RR3 57%

Rating History
Country: Germany
Sectors: Corporate Finance
Disclosures: EU Issued, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior secured; delayed draw term loan
Maturity Date: 10-Apr-2032
Currency: EUR
Amount: 150,000,000
Coupon Rate: Euribor + 4.25%
Placement: Public
Issuer: Admiral Bidco GmbH
Debt Level: senior secured
Issue: GBP 305 mln Floating SONIA 5.25% Term Loan B 10-Apr-2032
24-Apr-2025
B+(EXP)
Expected Rating
Long Term Rating
RR3 57%

Rating History
Country: Germany
Sectors: Corporate Finance
Disclosures: EU Issued, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior secured; Term Loan B
Maturity Date: 10-Apr-2032
Currency: GBP
Amount: 305,000,000
Coupon Rate: SONIA + 5.25%
Placement: Public
Page
of 1
Loading...

06Disclosures

Original Rating Date
Long Term Issuer Default Rating31-Mar-2025
Endorsement Status
EU Issued, UK Endorsed
Country of 巴黎人娱乐城 Office
POLAND
Solicitation Status
Long Term Issuer Default RatingSolicited - Sell Side
Country of Analyst
POLAND

08Analysts

Pawel Jagiello
Primary Rating Analyst

Elin Lannestr枚m
Secondary Rating Analyst

Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 
Recovery Ratings Key
Outstanding
RR1
Superior
RR2
Good
RR3
Average
RR4
Below-Average
RR5
Poor
RR6

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review 鈥 No Action), please refer to the 鈥淟atest Rating Action Commentary鈥 for an explanation of key rating drivers

*Premium Content is displayed in 巴黎人娱乐城 Red