S&P revises Fogo De Chao view to positive

S&P said it revised its outlook on Fogo de Chao Inc. to positive from stable and affirmed the B- issuer credit rating.

At the same time, S&P affirmed the B- issue-level rating and 3 recovery rating (rounded estimate: 50%) on the company’s existing first-lien debt.

“The positive outlook reflects the potential for a higher rating over the next 12 months if Fogo executes its aggressive growth strategy profitably and successfully addresses its current capital structure maturities,” S&P said in a news release.

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