S&P revises Aspire view to stable

S&P said it revised its outlook for Aspire Bakeries Holdings LLC to stable from positive and affirmed its ratings, including the B rating on its first-lien term loan due 2028.

“The stable outlook reflects our expectation for leverage sustained in the mid-6x area over the next 12 months with an FOCF deficit of over $15 million. We nevertheless expect the company will successfully increase prices to offset higher inflation and continued recovery in the quick-service restaurant (QSR) and food-service segments, resulting in mid-single-digit percentage organic revenue growth or above,” S&P said in a press release.

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