Fitch revises Encino view to negative

Fitch Ratings said it affirmed the long-term issuer default rating for Encino Acquisition Partners Holdings, LLC and Encino Acquisition Partners, LLC at B+ and revised to outlook to negative from stable. Fitch also affirmed the BB-/RR3 rating of the company's senior secured second-lien term loan.

“The negative outlook reflects Fitch's view that further credit improvement will be challenged in the current natural gas pricing environment and as reflected in Fitch's natural gas price deck. Leverage sensitivities could be breached and liquidity reduced if natural gas prices remain low over an extended period of time,” said Fitch in a press release.

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