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Recovery Report: O'Charley's Inc.'s Recovery Rating Profile Jun 11

  • ID: 1822464
  • June 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has completed a review of the recovery and issue-level ratings assigned to Nashville-based O'Charley's Inc. Inc.'s senior subordinated notes. All ratings are unchanged. Our recovery analysis incorporates a simulated default scenario that contemplates a default occurring in 2013 as a result of reduced consumer spending in a volatile economy, coupled with rising commodity costs. O'Charley's capital structure consists of a $45 million revolving credit facility due 2013 (unrated) and $125 million senior subordinated notes due 2013. The revolver is secured by mortgages on 47 of the company's restaurant properties and liens on substantially all of the company's non-real estate assets other than equipment and certain assets of smaller franchisees and domestic subsidiaries. The notes are...

Companies mentioned in this report are:
- O'Charley's Inc.

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: Full Analysis

Note: Product cover images may vary from those shown

- O'Charley's Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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