Uno, Sbarro draw credit downgrades, warnings about debt

New York Debt continues to be a four-letter word for the restaurant industry.

Standard & Poor’s Ratings Services lowered the corporate credit ratings of Uno Restaurant Holdings Corp. and Sbarro Inc. on Tuesday, saying both companies could soon breach debt covenants.

At Uno, the operator or franchisor of more than 200 Uno Chicago Grill restaurants, the decision to hold off on a twice-yearly interest payment due Friday triggered the ratings cut.

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