The ratings on Orlando, Fla.-based Darden Restaurants Inc. reflect the company's relatively good position in the casual dining industry, financial conservatism demonstrated by its solid cash flow protection measures, and strong balance sheet. Darden is the largest full-service casual dining restaurant company in the U.S., operating 681 Red Lobster, 566 Olive Garden, 32 Bahama Breeze, 110 Smokey Bones BBQ, and three Seasons 52 restaurants. The company has $947 million in total debt outstanding. Darden has generated consistently good operating results since 1998 because of successful reinvestment in its core businesses. The company has improved the food, service, and atmosphere at its units. As a result, as of August 28, 2005, Olive Garden has recorded 45 consecutive quarters of same-store sales
