S&P boosts Dave & Buster’s

S&P said it boosted Dave & Buster’s Inc. and its senior secured debt to B from B-. The debt’s 3 recovery rating is unchanged.

“We now forecast accelerated deleveraging to the mid-4x area by the end of fiscal 2021, supported by pent-up demand and a strong economic rebound as Covid-19 restrictions ease. The loosening of social restrictions and surge in demand for out-of-home entertainment and dining in recent months indicate an accelerated pace of recovery for Dave & Buster's operations,” S&P said in a press release.

The agency said it projects adjusted EBITDA margins in the low- to mid-30% area in fiscal 2021 relative to 30.4% in fiscal 2019

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.