July 17, 2014 / 4:55 PM / 3 years ago

S&P cuts GTECH rating to BBB- after IGT buy

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

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