Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated - S&P Global Ratings’ Credit Research

Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated

Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated - S&P Global Ratings’ Credit Research
Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated
Published Jan 18, 2018
4 pages (1554 words) — Published Jan 18, 2018
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Taco Bell franchisee Tacala LLC plans to issue new debt to refinance its existing debt and pay a special dividend to shareholders. We are assigning our 'B-' corporate credit rating to Tacala. At the same time, we are assigning our 'B-' issue-level rating with a '3' recovery rating to the proposed first-lien debt and our 'CCC' issue-level rating with a '6' recovery rating to the proposed second-lien debt. The stable outlook reflects our expectation for relatively stable credit metrics over the next 12 months, with adjusted debt to EBITDA approaching low-7.0x area, positive free operating cash flow, and adequate sources of liquidity. NEW YORK (S&P Global Ratings) Jan. 18, 2018--S&P Global Ratings today assigned its 'B-' corporate credit rating on

  
Brief Excerpt:

...+ Taco Bell franchisee Tacala LLC plans to issue new debt to refinance its existing debt and pay a special dividend to shareholders. + We are assigning our 'B-' corporate credit rating to Tacala. At the same time, we are assigning our 'B-' issue-level rating with a '3' recovery rating to the proposed first-lien debt and our '###' issue-level rating with a '6' recovery rating to the proposed second-lien debt. + The stable outlook reflects our expectation for relatively stable credit metrics over the next 12 months, with adjusted debt to EBITDA approaching low-7.0x area, positive free operating cash flow, and adequate sources of liquidity. NEW YORK (S&P Global Ratings) Jan. 18, 2018--S&P Global Ratings today assigned its 'B-' corporate credit rating on Alabama-based Taco Bell franchisee Tacala LLC. The outlook is stable. At the same time, we assigned our 'B-' issue-level rating and '3' recovery rating to Tacala's proposed first-lien debt, consisting of a $30 million cash flow revolver facility...

  
Report Type:

Ratings Action

Ticker
9895696Z
Issuer
Tacala LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated" Jan 18, 2018. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Tacala-LLC-Assigned-B-Corporate-Credit-Rating-Stable-Outlook-New-Debt-Rated-1982410>
  
APA:
S&P Global Ratings’ Credit Research. (). Tacala LLC Assigned 'B-' Corporate Credit Rating, Stable Outlook; New Debt Rated Jan 18, 2018. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Tacala-LLC-Assigned-B-Corporate-Credit-Rating-Stable-Outlook-New-Debt-Rated-1982410>
  
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