Summary: AP Gaming Holdings LLC - S&P Global Ratings’ Credit Research

Summary: AP Gaming Holdings LLC

Summary: AP Gaming Holdings LLC - S&P Global Ratings’ Credit Research
Summary: AP Gaming Holdings LLC
Published Aug 29, 2014
1905 words — Published Aug 29, 2014
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Abstract:

Customer and geographic concentration. Existence of strong competitors with broad product and content offerings. Above average profitability. Forecasted debt to EBITDA below 5x. EBITDA coverage of interest exceeds 2x. Sponsor's financial policy aligned with an aggressive assessment. The stable rating outlook reflects our expectation that the company will be modestly successful in expanding its installed base of machines outside of the Oklahoma gaming market and growing its revenue base. In addition, we expect financial sponsor Apollo will sustain debt to EBITDA below 5x and funds from operations (FFO) to debt in the low-teens percentage area at AP Gaming. Both of these leverage measures are in line with an aggressive financial risk assessment. We could consider a lower rating if we

  
Brief Excerpt:

RESEARCH Summary: AP Gaming Holdings LLC Publication date: 29-Aug-2014 Primary Credit Analyst: Melissa A Long, New York (1) 212-438-3886; melissa.long@standardandpoors.com Secondary Contact: Stephen Pagano, New York (1) 212-438-4484;...

  
Report Type:

Summary

Issuer
AP Gaming Holdings LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: AP Gaming Holdings LLC" Aug 29, 2014. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-AP-Gaming-Holdings-LLC-1355918>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: AP Gaming Holdings LLC Aug 29, 2014. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-AP-Gaming-Holdings-LLC-1355918>
  
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