Tabcorp well positioned to boost margins and reduce debt, says Fitch

Australian racing and wagering giant Tabcorp Holdings Ltd is well positioned to improve its operating margins and reduce leverage over the next two years, with its established market position, execution of its earnings strategy and introduction of regulatory reforms that should continue to narrow the “structural disadvantages” it has historically faced all positive indicators, according to Fitch. The ratings agency on Friday affirmed Tabcorp’s Long-Term Issuer Default Rating (IDR) and its senior unsecured notes at “BBB-‌” with a stable outlook, which it said is based on the expectation that Tabcorp’s credit metrics will remain adequate for its rating over the…