debt is $4 billion<\/a>, down sharply from $8.8 billion at the end of last year. Its net leverage is 3.9x, which is close to the desired range of 2.5x to 3.5x.<\/p>\n“The company retired its existing $4.0 billion term loan and redeemed $3.0 billion of its secured and unsecured notes using proceeds from the divestiture of the Lottery Business and a new $2.2 billion term loan facility,\u201d according to a statement. \u201cIn conjunction with the new term loan, the company also entered into a new $750 million revolving credit facility.\u201d<\/p>\n
Fitch Ratings placed a junk grade of \u201cBB\u201d on Light & Wonder. The firm will likely need to drive leverage below 3x to attain a credit upgrade. Higher credit ratings mean a company can issue debt with lower interest rates.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Light & Wonder\u2019s name change is legally official, and the slot machine manufacturer\u2019s shares now trade under the ticker \u201cLNW\u201d on the Nasdaq. The company previously known as Scientific Games announced the rebranding in early March, and almost immediately began using the Light & Wonder name while temporarily retaining the stock ticker of \u201cSGMS.\u201d As […]<\/p>\n","protected":false},"author":46,"featured_media":211455,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,69293],"tags":[],"acf":[],"yoast_head":"\n
Light & Wonder Name, Stock Ticker Changes Are Finalized<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n