S&P assigns Yum! notes BBB

Standard & Poor's said it assigned its BBB rating to Yum! Brands Inc.'s aggregate $600 million senior unsecured notes due 2023 and 2043.

The company plans to use net proceeds from the issuances to fund tender offers for up to $525 million aggregate principal amount of its existing senior notes and to pay premiums in connection with those tender offers.

S&P said the ratings on Yum reflect its view of its business risk profile as "satisfactory." based on the company's participation in the highly competitive restaurant industry, its leading global market position and international geographic diversity and its portfolio of diverse and well-recognized brands.

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