Moody's lowers YUM

Moody's Investors Service said it lowered YUM! Brands, Inc.'s non-guaranteed senior unsecured ratings to Baa3 from Baa2 and its guaranteed senior unsecured bank facility rating to Baa2 from Baa1.

The downgrade was driven by the company's debt protection metrics, which will remain weaker than levels consistent with a Baa2 senior unsecured rating over the intermediate term, according to the agency.

The outlook is stable. This concludes Moody's review for downgrade begun on June 10.

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