S&P shifts Encino Acquisition outlook negative

S&P said it revised its outlook for Encino Acquisition Partners LLC to negative from stable.

“The negative outlook reflects our expectation of weaker financial measures and increased cash burn over the next two years,” said S&P in a press release.

The agency affirmed the company’s B+ rating and raised the rating on Encino’s second-lien term loan due 2025 to BB from BB-. S&P revised the recovery rating to 1 from 2, reflecting the expectation of a very high (90%-100%, rounded estimate: 95%) recovery in the event of a payment default.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.