U.S. restaurant operator Darden Restaurants Inc. has announced the sale of its seafood restaurant operating brand Red Lobster. The ratings on Darden, including the 'BBB-' corporate credit rating, remain on CreditWatch with developing implications, where we placed them on Dec. 19, 2013. We expect to resolve the CreditWatch placement closer to the completion of the transaction, reflecting our evaluation of the business and financial impact of the Red Lobster sale, including operating initiatives, financing details, and management's financial policies and capital structure. The likely outcome would be an affirmation of our 'BBB-' corporate credit rating on Darden with a negative outlook. On May 16, 2014, Standard&Poor's Ratings Services said its ratings on Darden Restaurants Inc., including the 'BBB-'
