S&P lifts Enterprise Inns view to stable

Standard & Poor's said it revised the outlook on Enterprise Inns plc to stable from negative.

The agency also said it affirmed its B long-term corporate credit rating, along with the BB- ratings on its five senior secured bonds.

The recovery rating on these bonds is unchanged at 1, reflecting 90% to 100% expected recovery in a default.

The outlook revision reflects the company's focus on debt reduction through asset disposals, its stabilizing operating performance and a reduction in liquidity risks owing to the refinancing of part of its bank facility, S&P said.

The operating environment for tenanted pub operators is likely to remain challenging, the agency said.

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