Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable - S&P Global Ratings’ Credit Research

Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable

Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable - S&P Global Ratings’ Credit Research
Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable
Published Oct 02, 2013
Published Oct 02, 2013
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Abstract:

OVERVIEW U.S. restaurant operator Darden Restaurants Inc. continued to report operating performance that is weaker than our previous expectations in its latest fiscal quarter. We are lowering the ratings on Darden, including the corporate credit rating, which we lowered to 'BBB-' from 'BBB', reflecting our expectation that sales and earnings trends will remain relatively soft in the remainder of fiscal 2014 and credit metrics are unlikely to improve meaningfully in the near term. The stable outlook reflects our view that despite the recent weak trends, core unit operating performance and credit metrics will likely start to stabilize in fiscal 2014 and improve modestly in fiscal 2015. NEW YORK (Standard&Poor's) Oct. 2, 2013--Standard&Poor's Ratings Services said today

  
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Restaurants (25301040)
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Global Issuers
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MLA:
S&P Global Ratings’ Credit Research. "Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable" Oct 02, 2013. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Inc-Rating-Lowered-To-BBB-On-Weak-Sales-And-Earnings-Trends-Outlook-Stable-1199530>
  
APA:
S&P Global Ratings’ Credit Research. (). Darden Restaurants Inc. Rating Lowered To 'BBB-' On Weak Sales And Earnings Trends; Outlook Stable Oct 02, 2013. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Inc-Rating-Lowered-To-BBB-On-Weak-Sales-And-Earnings-Trends-Outlook-Stable-1199530>
  
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