S&P upgrades Enjoy

S&P said it raised its corporate credit rating and senior secured ratings on Enjoy SA to B from B- and removed the ratings from CreditWatch with positive implications.

The outlook is stable.

The agency said the upgrade reflects the completion of a capital increase for $184 million and the subsequent debt reduction.

“We believe the company will use all the capitalization proceeds to prepay debt, resulting in considerable leverage reduction,” S&P said in a news release.

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