U.S. restaurant operator Darden Restaurants Inc. has announced plans to separate its seafood restaurant operating brand Red Lobster from the rest of the group. We are placing our ratings on Darden, including the 'BBB-' corporate credit on CreditWatch developing. We expect to resolve the CreditWatch placements after evaluating the business and financial impact of the potential Red Lobster separation transaction, including operating initiatives, financing details, and management's financial policies and capital structure. On Dec. 19, 2013, Standard&Poor's Ratings Services placed its ratings, including the 'BBB-' corporate credit rating, on Orlando, Fla.-based Darden Restaurants Inc. on CreditWatch with developing implications. The CreditWatch placements follow Darden's announcement that it plans to separate Red Lobster from the remaining group. The proposed
