Fitch revises EG Group view to positive

Fitch Ratings said it revised the outlook on EG Group Ltd. to positive from stable and affirmed the long-term issuer default rating at B-. Fitch also affirmed EG's senior secured instrument ratings at B/RR3 and second-lien instrument ratings at CCC/RR6.

“The positive outlook reflects the enhanced scale, diversification and increased earnings as synergies from prior large acquisitions have materialized. This results in expected deleveraging capabilities below 8x on a funds from operations (FFO)-basis, or below 7x measured as lease-adjusted debt/EBITDAR over the next 12-18 months,” Fitch said in a press release.

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