S&P turns Restaurant Brands view to stable

S&P said it changed Restaurant Brands International Inc.’s outlook to stable from negative and affirmed all its ratings, including the BB issuer rating.

“We expect continued same-store sales recovery in 2021, supported by rapid vaccination distribution and strengthened consumer confidence. Encouraging signs of an accelerating economic recovery are fast emerging, and we have raised our U.S. GDP growth forecast to 6.5% and Canada GDP growth forecast to 5.5%,” S&P said in a press release.

The agency said it sees solid free operating cash flow generation and leverage declining to the low 5x area in fiscal 2021.

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