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S&P lowers Jack in the Box view to negative
Standard & Poor's said it revised its outlook on Jack in the Box Inc. to negative from stable.
Ratings were affirmed, including the BB corporate credit and secured bank loan ratings and B+ subordinated debt rating.
S&P said the outlook revision reflects the company's more aggressive policy at a time when cash flow protection measures are weak for the rating category and its operating margins are under pressure.
The agency added ratings on Jack in the Box reflect the company's participation in the intensely competitive quick-service segment of the restaurant industry and its highly leveraged capital structure, adding these weaknesses are partially offset by the company's solid regional presence, its generally good operating performance and its ability to develop and market new products.
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