S&P downgrades Tabcorp credit rating

Tabcorp Holdings Ltd's long-term credit rating has been downgraded a notch to BBB- by Standard & Poor's after the gaming giant announced it would pay $75 million for a 20-year extension to its retail betting monoploy in New South Wales.

Tabcorp Holdings Ltd's long-term credit rating has been downgraded a notch to BBB- by Standard & Poor's after the gaming giant announced it would pay $75 million for a 20-year extension to its retail betting monoploy in New South Wales.  

The ratings agency said it had lowered the group's rating to BBB- from BBB, but its long-term rating outlook was stable. 

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