...Fitch Ratings has affirmed Whitbread PLC's Long-Term Issuer Default Rating (IDR) at `BBB' with a Stable Outlook and its Short-Term IDR at `F2'. Fitch has also affirmed the senior unsecured rating for Whitbread Group Plc at `BBB'. Whitbread Group Plc is the main entity that issues debt within the group. All bonds have guarantees from Whitbread PLC and main subsidiaries Premier Inn and Costa Limited. The company's `BBB' IDR reflects Whitbread's leading market position in the UK mid-scale budget hotel segment, where it is targeting 85,000 rooms by 2021 through its Premier Inn (PI) brand, and a growing Costa Coffee shop network both in the UK and internationally. The affirmation reflects Fitch's expectation that the company's operating performance will remain positive in the financial year to February 2018 (FY18), despite the challenging UK economic environment, higher operating costs and still high capex. Fitch expects Whitbread's credit metrics to remain steady despite the group's expansion...
