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S&P puts Morton's on positive watch
Standard & Poor's said it placed its ratings on Morton's Restaurant Group Inc. on CreditWatch with positive implications, including the B- corporate credit and senior secured debt ratings.
The rating action follows the company's announcement that it plans a $150 million initial public offering. Given that the company's outstanding debt is $141 million, leverage could significantly improve with the successful completion of the offering, the agency said.
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