The ratings on Orlando, Fla.-based Darden Restaurants Inc. reflect the company's relatively good position in the casual dining industry, financial conservatism as demonstrated by its solid cash flow protection measures, and a strong balance sheet. Darden is the largest full-service casual-dining restaurant company in the U.S., operating 683 Red Lobster, 584 Olive Garden, 32 Bahama Breeze, 127 Smokey Bones BBQ, and five Seasons 52 restaurants. The company has generated consistently good operating results since 1998 because it has successfully reinvested in its core businesses. The company has improved the food, service, and atmosphere at its units. As a result, as of Aug. 27, 2006, Olive Garden has recorded 48 consecutive quarters of same-store sales gains. However, Red Lobster posted negative
