Novelty gift and Halloween retailer SSH Holdings Inc.(doing business as Spencer Spirit) has reported better-than-anticipated results through the fiscal 2018 third quarter, which includes the very important Halloween season, and we expect continued moderate EBITDA growth over the next 12 months. We raised the issuer credit rating to 'B-' from 'CCC+', and revised the outlook to stable from negative. The stable outlook incorporates our expectation that mid-single-digit EBITDA growth will support steady improvement in credit metrics and moderately positive free operating cash flow over the next year. The rating action reflects our view that operating performance and credit metrics will continue to improve over the next 12 months, increasing the likelihood that the company could successfully refinance its debt at
