New York (Standard&Poor's) Oct 10, 2014–-Standard&Poor's Ratings Services said today that its rating and outlook on Darden Restaurant Inc. (BBB-/negative/--) are unaffected by shareholders having elected all 12 Starboard Value LP-nominated directors to Darden's board of directors, resulting in a brand new board, effective immediately. We do not expect the new board to make any abrupt departures from its exiting financial policy; however, we believe business strategies will eventually shift and we will closely monitor the company following this sweeping board change. We could lower the ratings if it appears that Starboard Value's board control lead to more aggressive financial and/or operating strategies in the near term, resulting in meaningfully weakened product/concept diversity or higher leverage.
