Sustainability in the Global Defense Industry 2011-2012: Market Trends and Opportunities, Forecast of Budgets and Profitability, Defense Industry Procurement and Marketing Initiatives
- Published: September 2011
- Region: Global
Private-equity firm Golden Gate Capital (GGC) completed its acquisition of U.S. restaurant operator California Pizza Kitchen Inc. (CPK) for $470 million last year. Standard & Poor's Ratings Services is assigning its 'B' corporate credit rating to California Pizza Kitchen. We are also assigning a 'B' issue-level rating and a '3' recovery rating to the company's $290 million senior secured first-lien credit facility, which GGC used to partly fund its acquisition of CPK. The stable outlook reflects our expectations for cost-saving initiatives to offset same-store sales trends, flat because of weak traffic and limited pricing initiatives. On Feb. 16, 2012, Standard & Poor's Ratings Services assigned its 'B' corporate credit rating to California Pizza Kitchen Inc. (CPK). The outlook is stable....
Companies mentioned in this report are: California Pizza Kitchen, Inc.
Action: New Rating
Action: Outlook: Stable
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Product Type: Research Update
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California Pizza Kitchen, Inc.