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DBRS confirms Tim Horton's
DBRS said it confirmed the long-term rating of Tim Horton's Inc. at A (low) with a stable trend.
The company continues to benefit from its position as the leading quick service restaurant in Canada, while exploring and refining its United States and international expansion strategies, DBRS said.
In 2010, Tim Horton's revenues increased by 4% from the previous year to about $2.54 billion as system-wide restaurant sales rose 6.2% to more than $5 billion, the agency said.
Operating margins remained fairly stable as rising input costs were offset by price increases and improved product mix, DBRS added.
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