S&P cuts GTECH rating to BBB- after IGT buy
MILAN, July 17
MILAN, July 17 (Reuters) - Standard & Poor's has cut its rating for Italy's lottery operator GTECH to BBB- from BBB after the company announced it was buying U.S. slot machine maker International Game Technology for $4.7 billion, GTECH said on Thursday.
The short-term rating was cut to A-3 from A-2. GTECH announced the deal on Wednesday.
(Reporting by Silvia Aloisi)