Fitch assigns Greece’s Intralot bond BB-/RR3 rating

Fitch Ratings on Wednesday assigned Intralot’s recently issued 250-million-euro seven-year bond a final BB-/RR3 rating.

Athens-listed Intralot generates only 5 percent of its revenues and less than 10 percent of its EBITDA in Greece.

While its management and a major proportion of its software developers and machine designers are based in Greece, overall these employees only account for 15 percent of the total.

As of 2013 less than 10 percent of group cash was lodged in Greece or Cyprus.