Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd - S&P Global Ratings’ Credit Research

Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd

Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd - S&P Global Ratings’ Credit Research
Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd
Published Sep 19, 1996
Published Sep 19, 1996
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Abstract:

NY -- Standard & Poor's CreditWire 9/19/96 -- Standard & Poor's today has lowered Darden Restaurants Inc.'s corporate credit rating and the rating on its senior debt to triple-`B' from triple-`B'-plus. The `A-2' commercial paper rating has been affirmed. The outlook is stable. The downgrade was based on the company's disappointing first quarter operating results at its Red Lobster chain following a weak fourth-quarter performance in fiscal 1996. It also reflects Standard & Poor's belief that it will be some time before Darden can return to its historical level of profitability. Sales declined 4.7% on a 6.4% drop in same store sales at Red Lobster. This contributed to Darden's operating income decreasing over 40% to $34 million in the first

  
Report Type:

News

Issuer
Darden Restaurants Inc.
Sector
Corporations, Global Issuers, Retail
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd" Sep 19, 1996. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Sr-Debt-Lwrd-to-BBB-by-S-P-CP-Afmd-78261>
  
APA:
S&P Global Ratings’ Credit Research. (). Darden Restaurants Sr Debt Lwrd to BBB by S&P;CP Afmd Sep 19, 1996. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Darden-Restaurants-Sr-Debt-Lwrd-to-BBB-by-S-P-CP-Afmd-78261>
  
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