S&P: Dave & Buster's unaffected

Standard & Poor's said Dave & Buster's Inc.'s (B-/stable) announcement that it retained Jefferies & Co. to assist in exploring a possible sale has no immediate effect on its rating or outlook.

The agency said that while a sale may increase debt, the resulting credit metrics would likely be adequate for the current B- corporate credit rating.

S&P said a sale would likely mean that the company would have to refinance its existing capital structure because of covenants in senior secured credit facility and senior unsecured notes.

The company also announced that it paid down $10 million of borrowing on its senior secured credit facility in the fourth quarter, which, the agency said, does not affect ratings or outlook because it does not materially improve the company's credit ratios.

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