Brinker International Inc. Ratings On CreditWatch Negative On Plan To Increase Leverage

U.S. restaurant franchisor and operator Brinker International Inc. has announced plans to increase leverage in the $250 million to $300 million range in the near term, subject to market conditions and use the proceeds to return capital to shareholders in the form of share repurchases. We are placing our ratings on Brinker, including the 'BBB-' corporate credit rating on CreditWatch with negative implication. We expect to resolve the CreditWatch placements in conjunction with a financing transaction, along with further evaluation of the management's financial policies. NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings placed its ratings, including the 'BBB-' corporate credit rating, on Dallas-based Brinker International Inc. on CreditWatch with negative implications. "The CreditWatch placements follow Brinker's announcement

...+ U.S. restaurant franchisor and operator Brinker International Inc. has announced plans to increase leverage in the $250 million to $300 million range in the near term, subject to market conditions and use the proceeds to return capital to shareholders in the form of share repurchases. + We are placing our ratings on Brinker, including the '###-' corporate credit rating on CreditWatch with negative implication. + We expect to resolve the CreditWatch placements in conjunction with a financing transaction, along with further evaluation of the management's financial policies. NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings placed its ratings, including the '###-' corporate credit rating, on Dallas-based Brinker International Inc. on CreditWatch with negative implications. "The CreditWatch placements follow Brinker's announcement that it plans to increase leverage in the $250 million to $300 million range in the near term and use the proceeds to return capital to shareholders...

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