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Elior (ELIOR Unsecured; B3 Neg/B Pos now) S&P moves to pos. outlook

CONSUMER CYCLICALS
  • Positive outlook on a expected strong headline recovery (S&P and consensus +15%) for the catering co.
  • Has single €550m 26s alongside term loans due next year leaves S&P noting it "will have to refinance the vast majority of its debt structure in the next few quarters".
  • Looks like S&P wants to see evidence it can do that before it moves as well.


Normally reports 3Q results around late July but looks like it has shifted to half-year only. FY results come 20th of Nov.

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