S&P revises Enjoy outlook to negative

S&P said it changed its outlook for Enjoy SA to negative from stable, citing lower earnings and higher leverage.

“Enjoy's results since the third quarter of 2018 have been considerably weaker than expected because of a combination of weaker economic conditions, misguided commercial decisions, and inherent business impact (lower hold; the percentage the casino gains), and we believe the impact will last throughout most of this year,” said S&P in a news release.

The agency affirmed its B ratings on the company and its senior secured notes.

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