NEW YORK (Standard & Poor's CreditWire) Dec. 17, 1999--Standard & Poor's today raised its long-term corporate credit, senior unsecured debt, and bank loan ratings on Darden Restaurants Inc. to triple-'B'-plus from triple-'B'. Standard & Poor's also raised its preliminary senior unsecured shelf rating on the company to triple-'B'-plus from triple-'B'. At the same time, Standard & Poor's affirmed its 'A-2' short-term corporate credit and commercial paper ratings on the company. The outlook is stable. The upgrade reflects Darden's good operating performance over the past three years as a result of its successful reinvestments in its core businesses. Darden's business suffered significantly in 1996 and 1997 due to competitive incursions and execution problems at its restaurants. The company responded by slowing
