The ratings on Orlando, Fla.-based Darden Restaurants Inc. reflect the company's relatively good position in the casual-dining industry, geographic and concept diversity, and the good cash flow and profitability of its restaurants. These strengths are partially offset by the company's participation in the intensely competitive casual-dining sector of the restaurant industry. Darden is the largest full-service casual-dining restaurant company in the U.S., operating 1,400 Red Lobster, Olive Garden, Bahama Breeze, and Seasons 52 restaurants. Standard&Poor's Ratings Services believes the acquisition of Rare could have some strategic value to Darden's long-term growth as it attempts to accelerate expansion in the casual-dining segment. We expect minimal integration risk because of Darden's past success with Olive Garden and Red Lobster, the
