S&P: El Pollo Loco on watch

Standard & Poor's said it placed its ratings on El Pollo Loco Inc. on CreditWatch with negative implications, including the corporate credit ratings at B and senior secured debt at B-.

S&P noted this action followed the announcement that Trimaran Capital Partners LLC has entered into a definitive agreement to purchase the company from American Securities Capital Partners LP for an undisclosed value.

Because the transaction is likely to result in an increase in debt to an already highly leveraged capital structure, the company's credit profile is expected to deteriorate, the agency said.

© 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.