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S&P revises Petco view to positive
S&P said it revised its outlook on Petco Holdings Inc. to positive from negative and affirmed all of its ratings, including the CCC+ issuer credit rating.
“The positive outlook reflects our expectation that continued good performance will lead the company to reduce leverage below 6x in fiscal year 2021 and improve the likelihood of completing an at-par refinancing of its term loan,” S&P said in a news release.
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