S&P: Wendy's on watch

Standard & Poor's said it placed its ratings for Wendy's International Inc., including the BB+ corporate credit rating, on CreditWatch with negative implications.

The agency said that the CreditWatch placement follows Wendy's announcement that its board of directors has formed a special committee of independent directors to investigate all strategic options for the company.

These options, among other things, may include revisions to the strategic plan, changes to the capital structure, a possible sale, merger, or other business combination, the agency added.

After the company has announced its findings and its future plans, S&P said it will reassess the appropriateness of the BB+ rating.

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