S&P: Equinox view positive

Standard & Poor's said it revised the outlook on Equinox Holdings Inc. to positive from stable based on solid operating performance and improved credit measures. S&P also affirmed the issuer's B- corporate credit rating.

According to S&P, the ratings reflect geographic concentration, relatively small scale, high debt leverage, aggressive club expansion plans and an increasingly competitive industry.

These considerations are partly offset by the company's strong New York City club cluster, healthy same-club revenue and membership growth as well as profit margins, the agency said.

For the 12 months ended June 30, the issuer's lease-adjusted total debt-to-EBITDA ratio was 8.4 times.

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