...Fitch Ratings affirmed Burger King's ratings as follows: long-term issuer default rating (IDR) at `BB'; secured bank credit facility at `BB+'. The Rating Outlook has been revised to Stable from Positive. At Sept. 30, 2009, Burger King had approximately $890 million of debt, most of which is secured. Burger King's ratings reflect its positive free cash flow (FCF) generation, competitive position in the quick service restaurant (QSR) sector, and improving system-wide operating infrastructure. The company is making noticeable progress with guest satisfaction and is implementing longer competitive hours of operation. The ongoing rollout of its flexible batch broiler will foster the continued launch of additional products in order to help drive traffic. Burger King is also reinvesting in company-operated restaurants by remodeling units. The company has generated annual average FCF (defined as cash flow from operations less capital expenditures and dividends) of approximately $50 million since...
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| Report Type: | Newsletter
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| Company(ies): | Windstream Corporation, Ford Motor Company, Central Pacific Bank, Starwood Hotels & Resorts Worldwide, The CIT Group, Inc., YRC Worldwide Inc, Burger King Corporation
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| Ticker(s): | YRCW , HOT , WIN , F , CITGQ
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| Issuer: | YRC Worldwide Inc.
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| Free Sample: |
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| Format: | | PDF |  |
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