S&P ups Cracker Barrel view to stable

Standard & Poor's said it revised its outlook on Cracker Barrel Old Country Store Inc. to stable from negative because of improved credit metrics and improved cushion over financial covenants.

S&P also affirmed the ratings on the company, including the BB- corporate credit rating.

The ratings on Cracker Barrel reflect the company's participation in the highly competitive restaurant industry, its historically shareholder-friendly financial policies and its aggressively leveraged capital structure, S&P said. Its generally good levels of profitability and its solid position in the family dining sector of the restaurant industry are mitigating factors.

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