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S&P: River Cree view to stable
S&P said it revised the outlook on River Cree Enterprises LP to stable from negative and affirmed its B long-term corporate credit rating.
In addition, the agency affirmed the CCC+ issue-level rating on River Cree's second-lien notes.
“The stable outlook on River Cree reflects our view that the company's improved operating performance will lead to adjusted EBITDA interest coverage of 2.0x-2.5x over the next 12 months,” S&P said in a news release.
“We expect the company to improve revenues and reduce operating costs, despite the competitive landscape and weak macro-economic environment, which will lead to stable EBITDA margins of 8.5%-9.0% over the next 12 months.”
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