Moody's: Buffets' view developing

Moody's Investors Service said it affirmed Buffets Holdings, Inc.'s B2 corporate family rating and changed the outlook to developing following the company's public announcement that it plans to engage advisors to assist in exploring various strategic alternatives to maximize shareholder value.

At the same time, the rating agency said it affirmed Buffets' senior unsecured rating of Caa1 as well as all ratings at Buffets, Inc., the operating company.

The developing outlook incorporates uncertainty as to the timing, nature and potential impact on creditors resulting from any actions taken by the company, the agency said.

However, Moody's added that the revised outlook anticipates a near-to-intermediate term resolution.

© 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.