S&P revises Winebow to negative

Standard & Poor's said it affirmed its B corporate credit rating to Winebow Group LLC.

The outlook was revised to negative from stable.

At the same time, the agency affirmed the B issue-level rating on the $230 million first-lien loan due 2021 and the CCC+ issue-level rating on the $130 million second-lien loan due 2021. The recovery ratings are unchanged at 3 and 6, respectively.

"The outlook revision to negative reflects our assessment that the company's weaker-than-expected performance will result in prolonged higher total adjusted debt levels that are weaker than we expected in part because of lost sales volumes after the merger between Winebow and the Vintner Group," S&P credit analyst Stephanie Harter said in a news release.

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