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S&P stabilizes Seminole Hard Rock view
S&P said it revised the outlook for Seminole Hard Rock Entertainment Inc. and Seminole Hard Rock International LLC (together Hard Rock) to stable from negative.
“Hard Rock's liquidity position has improved over the past few quarters, and we forecast it can maintain EBITDA at a level that supports ongoing liquidity needs,” the agency said in a press release.
The outlook mirrors a forecast for Hard Rock to generate enough EBITDA to cover fixed charges by at least 1x, maintain some excess cash, and lower its debt over the next year, S&P said.
Concurrently, the agency affirmed all its ratings for the companies, including the B+ issuer rating.
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