Darden Restaurants Outlook Revised to Negative by S&P - S&P Global Ratings’ Credit Research

Darden Restaurants Outlook Revised to Negative by S&P

Darden Restaurants Outlook Revised to Negative by S&P - S&P Global Ratings’ Credit Research
Darden Restaurants Outlook Revised to Negative by S&P
Published Mar 12, 1997
Published Mar 12, 1997
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Abstract:

NY -- Standard & Poor's CreditWire 3/12/97 -- Standard & Poor's today has revised the rating outlook of Darden Restaurants Inc. to negative from stable. Standard & Poor's has affirmed its triple-`B' corporate credit and senior debt ratings, as well as its `A-2' commercial paper rating on the company. The outlook change is prompted by the company's reported second and third fiscal quarter operating results, which were below Standard & Poor's expectations. The moderate improvement in Red Lobster's customer traffic and average check amount in the third quarter of 1997 were mostly offset by higher-than-expected training and labor costs. As a result, Darden's third- quarter operating income fell 56% to $27.3 million from the same period the previous year. For

  
Report Type:

News

Issuer
Sector
Corporations, Global Issuers, Retail
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MLA:
S&P Global Ratings’ Credit Research. "Darden Restaurants Outlook Revised to Negative by S&P" Mar 12, 1997. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Outlook-Revised-to-Negative-by-S-P-79688>
  
APA:
S&P Global Ratings’ Credit Research. (). Darden Restaurants Outlook Revised to Negative by S&P Mar 12, 1997. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Outlook-Revised-to-Negative-by-S-P-79688>
  
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