Fitch revises Brinker to negative

Fitch Ratings said it affirmed Brinker, International, Inc.'s issuer default rating at BB+ and revised its outlook to negative from stable.

Fitch said the outlook revision incorporates the risk that Brinker's efforts to redefine Chili's Grill & Bar’s value proposition, improve restaurant-level execution and strengthen its takeout capabilities may not result in a sustained improvement in comps and that share losses may continue.

Leverage is also at the high end of the agency’s expectation for the current rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.