S&P affirms Dave & Buster's

Standard & Poor's said it affirmed its ratings, including the B corporate credit rating, on Dave & Buster's Inc. and removed the ratings from CreditWatch with positive implications, where they were placed on July 15.

The outlook is stable.

The agency said the action is based on its expectation that the company is not likely to complete an initial public offering in the near term given current capital market conditions and the very difficult operating environment facing casual-dining restaurants. Proceeds would likely have paid down borrowings on the company's senior secured term loan and monetized part of the private-equity sponsor's investment.

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