Fitch rates Yum! notes BBB-

Fitch Ratings said it assigned a BBB- rating to Yum! Brands, Inc.'s proposed $350 million of 10-year senior unsecured notes due in 2020.

The outlook is positive.

The new notes, which rank pari passu with Yum's existing senior unsecured indebtedness, will be issued under the company's May 1, 1998 indenture, the agency said.

Net proceeds will be used for general corporate purposes, which may include the repayment of outstanding indebtedness, Fitch noted.

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