Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate, vol.3
- Creatore Discussione fabriziof
- Data di Inizio
IL MARATONETA
Forumer storico
Capiremo qualcosa quando renderanno note le richieste. A giudicare dal prezzo saranno lacrime per noi
fabriziof
Forumer storico
Non trovo notizie.
Un’implosione strana,solo 5 mesi fa
fedro10
è la somma che fa il totale...
un po sopra 100
www.boerse-frankfurt.de
New York, October 27, 2025 -- Moody's Ratings (Moody's) today upgraded Brinker International, Inc.'s ("Brinker") corporate family rating (CFR) to Ba2 from Ba3 and probability of default rating (PDR) to Ba2-PD from Ba3-PD. In addition, we upgraded Brinker's backed senior unsecured notes rating to Ba3 from B1. Brinker's speculative grade liquidity rating (SGL) remains unchanged at SGL-1. The outlook remains positive.
The upgrades reflect Brinker's strong operating performance and cash flow, when coupled with sizeable debt reduction, has resulted in strong credit metrics and very good liquidity. For its fiscal year ended June 2025, Brinker's Moody's adjusted debt/EBITDA fell to around 1.9x and EBIT/Interest increased to over 4.5x. The company has successfully executed upon its three year turnaround plan at Chili's, achieving significant operating improvement. Brinker's same store sales and traffic growth have well outperformed the overall US restaurant industry over the past year despite the difficult consumer spending and higher cost environment.
The positive outlook reflects our expectation that Brinker will continue to maintain operating performance as well as credit metrics, as well as very good liquidity, despite the difficult consumer environment and challenging year-over-year performance comparisons.
RATINGS RATIONALE
Brinker's Ba2 CFR benefits from its high level of brand awareness of its two brands, Chili's and Maggiano's, its significant scale, good product pipeline, technology and operational improvement initiatives that are expected to drive incremental traffic and mitigate cost pressures over the longer term. Improved operating performance over the past two years has led to solid positive free cash flow, debt reduction, and stronger credit metrics. Constraining factors include Brinker's earnings concentration with Chili's, which requires this core brand to generate profitable same restaurant sales trends on a consistent basis. In addition, the ability and willingness of consumers to maintain or increase their spend on food away from home remains a concern given the difficult consumer spending environment.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
An upgrade would require maintaining a balanced growth strategy with consistent positive performance at Chili's, as well as ongoing financial policies that support maintaining solid credit metrics and very good liquidity. Quantitative metrics include Moody's adjusted debt/EBITDA maintained below 3.0x and EBITA/interest over 4.0x.
Ratings could be downgraded in the event operating performance materially declines financial policies turn more aggressive, or liquidity materially deteriorates. Quantitative metrics include Moody's adjusted debt/EBITDA sustained above 4.0x and EBITA/interest below 2.75x.
Brinker owns, operates and franchises the casual dining concepts Chili's Grill & Bar (Chili's) and Maggiano's Little Italy (Maggiano's). As of June 2025, Brinker had 1,162 company-owned restaurants and 469 franchised restaurants, and revenue approaching $5.4 billion.
The principal methodology used in these ratings was Restaurants published in September 2025 and available at Ratings.Moodys.com. Alternatively, please see the Rating Methodologies page on https://ratings.moodys.com for a copy of this methodology.
Brinker's Ba2 CFR is four notches below its scorecard indicated outcome of Baa1. The CFR is constrained by its single brand concentration with Chili's, the volatility of its earnings, and the need to execute on its turnaround plans for Maggiano's. .
Brinker International Inc. 8,25% 23/30 Bond | A3LKMR | USU6223WAC83 | Price
Brinker International Inc. 8,25% 23/30 price in real-time (A3LKMR / USU6223WAC83) charts and analyses, news, key data, turnovers, company data.
New York, October 27, 2025 -- Moody's Ratings (Moody's) today upgraded Brinker International, Inc.'s ("Brinker") corporate family rating (CFR) to Ba2 from Ba3 and probability of default rating (PDR) to Ba2-PD from Ba3-PD. In addition, we upgraded Brinker's backed senior unsecured notes rating to Ba3 from B1. Brinker's speculative grade liquidity rating (SGL) remains unchanged at SGL-1. The outlook remains positive.
The upgrades reflect Brinker's strong operating performance and cash flow, when coupled with sizeable debt reduction, has resulted in strong credit metrics and very good liquidity. For its fiscal year ended June 2025, Brinker's Moody's adjusted debt/EBITDA fell to around 1.9x and EBIT/Interest increased to over 4.5x. The company has successfully executed upon its three year turnaround plan at Chili's, achieving significant operating improvement. Brinker's same store sales and traffic growth have well outperformed the overall US restaurant industry over the past year despite the difficult consumer spending and higher cost environment.
The positive outlook reflects our expectation that Brinker will continue to maintain operating performance as well as credit metrics, as well as very good liquidity, despite the difficult consumer environment and challenging year-over-year performance comparisons.
RATINGS RATIONALE
Brinker's Ba2 CFR benefits from its high level of brand awareness of its two brands, Chili's and Maggiano's, its significant scale, good product pipeline, technology and operational improvement initiatives that are expected to drive incremental traffic and mitigate cost pressures over the longer term. Improved operating performance over the past two years has led to solid positive free cash flow, debt reduction, and stronger credit metrics. Constraining factors include Brinker's earnings concentration with Chili's, which requires this core brand to generate profitable same restaurant sales trends on a consistent basis. In addition, the ability and willingness of consumers to maintain or increase their spend on food away from home remains a concern given the difficult consumer spending environment.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
An upgrade would require maintaining a balanced growth strategy with consistent positive performance at Chili's, as well as ongoing financial policies that support maintaining solid credit metrics and very good liquidity. Quantitative metrics include Moody's adjusted debt/EBITDA maintained below 3.0x and EBITA/interest over 4.0x.
Ratings could be downgraded in the event operating performance materially declines financial policies turn more aggressive, or liquidity materially deteriorates. Quantitative metrics include Moody's adjusted debt/EBITDA sustained above 4.0x and EBITA/interest below 2.75x.
Brinker owns, operates and franchises the casual dining concepts Chili's Grill & Bar (Chili's) and Maggiano's Little Italy (Maggiano's). As of June 2025, Brinker had 1,162 company-owned restaurants and 469 franchised restaurants, and revenue approaching $5.4 billion.
The principal methodology used in these ratings was Restaurants published in September 2025 and available at Ratings.Moodys.com. Alternatively, please see the Rating Methodologies page on https://ratings.moodys.com for a copy of this methodology.
Brinker's Ba2 CFR is four notches below its scorecard indicated outcome of Baa1. The CFR is constrained by its single brand concentration with Chili's, the volatility of its earnings, and the need to execute on its turnaround plans for Maggiano's. .
fabriziof
Forumer storico
Un articolo sulla vicenda Lr
netcoo.com
Restrukturierungsgutachten: Quo Vadis LR Health & Beautys Systems?
Die LR Health & Beauty SE, Deutschlands Top-Network Marketing Unternehmen Nr. 2 steht vor einem herausfordernden Herbst.
netcoo.com
fabriziof
Forumer storico
dopo il tracollo ora non si fermano più
IL MARATONETA
Forumer storico
Quello di trekstor94
fabriziof
Forumer storico
Quello era l’altro ieri...mi sembra che già si riscende
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