Quidditch Acquisition Inc., an affiliate of Apollo Global Management LLC, entered into a definitive purchase agreement to acquire Qdoba Restaurant Corp. in a leveraged buyout transaction. We are assigning our 'B-' corporate credit rating to Quidditch. At the same time, we are assigning our 'B-' issue-level rating with '3' recovery rating to the company's proposed senior secured debt. The stable outlook reflects our expectation for relatively stable credit metrics and adequate sources of liquidity over the next 12 months. On Feb. 28, 2018, S&P Global Ratings assigned its 'B-' corporate credit rating to California-based Quidditch Acquisition Inc., the parent company of Mexican fast-casual chain Qdoba Restaurant Corp. The outlook is stable. At the same time, we assigned our 'B-' issue-level
