- Published: May 2012
- Region: United States
Recovery Report: Landry's Restaurants Inc.'s Recovery Rating Profile Sep 11
- Published: September 2011
- Standard & Poors
Standard & Poor's Ratings Services has completed a review of the recovery and issue-level ratings assigned to Houston-based Landry's Restaurants Inc.'s various debt issues. All ratings are unchanged. Our recovery analysis incorporates a simulated default scenario that contemplates a default occurring in 2014 as a result of protracted economic volatility and weak consumer spending, which is likely to translate into a steep decline of sales and earnings. Landry's Restaurants Inc.'s capital structure primarily consists of a $100 million revolving credit facility due 2014, a $187 million term loan due 2014, and 11.625% senior secured second-lien notes due 2015. Additionally, Landry's Holdings Inc. is the issuer of $110 million 11.5% senior secured HoldCo notes due 2014. Landry's Restaurants Inc. is the...
Companies mentioned in this report are: Landry's Restaurants Inc.
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Research Type: Full Analysis
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Landry's Restaurants Inc.