• SELECT SITE CURRENCY
Select a currency for use throughout the site
Sizzling Platter, LLC Assigned Preliminary 'B-' Corporate Credit Rating; Senior Secured Notes Also Rated 'B-' (Prelim) Mar 11
Standard & Poors, March 2011
U.S. restaurant operator Sizzling Platter is raising debt to acquire certain quick-service pizza chain restaurants and refinance existing debt. We are assigning our preliminary 'B-' corporate credit rating to Sizzling Platter. At the same time, we are assigning a preliminary 'B-' rating, with a preliminary recovery rating of '4', to the company's proposed $150 million senior secured notes due 2016. According to the company, it intends to use the proceeds to acquire certain quick-service pizza chain restaurants, refinance existing indebtedness, repurchase all of outstanding preferred equity, and for general corporate purposes. The outlook is stable, indicating our expectation that the company will maintain relatively stable operating performance as it acquires and integrates new restaurants. NEW YORK (Standard & Poor's) March...
Companies mentioned in this report are: Sizzling Platter LLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Sizzling Platter LLC