Completion of El Pollo Loco's (LOCO) IPO Would be Credit-Positive Event - Moody's
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 15.4%
EPS Growth %: 0.0%
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Moody's Investors Service commented that El Pollo Loco's (Nasdaq: LOCO)("EPL") ability to complete a $100 million initial public offering as planned would have an immediate positive impact on the company's overall credit profile, and possibly its issuer-level ratings. However, given the inherent uncertainty surrounding the company's ability to execute such a transaction, and the fact that there is currently nothing to prevent EPL from issuing additional debt in the future other than a 7.5 times debt/EBITDA maintenance covenant contained in its first lien bank agreement, no ratings change is being considered at this time.
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