On March 14, 2008, Standard&Poor's Ratings Services lowered its corporate credit rating on Darden Restaurants Inc. to 'BBB' from 'BBB+'. We have removed all the ratings from CreditWatch, where they had been placed with negative implications on Dec. 21, 2007. Concurrently, we affirmed Darden's 'A-2' short-term rating, which was not on CreditWatch. The outlook is stable. The downgrade reflects the deterioration in Orlando, Fla.-based Darden's core businesses, Red Lobster and Olive Garden, due to weak fundamentals in the casual-dining sector and rising commodity costs. These factors will likely affect Darden for several more quarters at a time when it is integrating its Oct. 1, 2007, acquisition of RARE Hospitality International (RARE). Moreover, credit metrics had already been weak
