S&P affirms Outfront Media

S&P said it affirmed all of its ratings on Outfront Media Inc., including the BB- issuer credit rating.

The issue-level rating on the company's senior secured credit facility remains BB+ and the recovery rating remains 1.

The issue-level ratings on the company's senior unsecured debt remains BB- and the recovery rating remains 4.

The outlook is stable.

The affirmations reflect an expectation that while Outfront's 5.5x adjusted leverage, for the 12 months ending Sept. 30, is at the upper threshold for the BB- rating, the agency expects leverage will improve to 5.3x to 5.4x in the fourth quarter of 2018 and remain in that range in 2019, S&P said.

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