I’m working in Illustrator.
The default letter-spacing (Auto) doesn’t look very good.
I think changing kerning to Optical is already an improvement.
That said I still think there are a few issues.
EL vs LI
But I’m no expert, so I was looking for some feedback on how to improve it manually.
Full size here
There is always kerning issues when you display text on large sizes. You need to kern it manually.
I suggest that you begin with the most difficult pair, in this case RL and and continue by adjusting all the other pairs until you achieve balance.