News Column

Fitch Updates Recovery Analyses for U.S. Food and Restaurant Companies

July 29, 2014



CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has published updated recovery analyses for the following U.S. food and restaurant companies:

--Burger King Worldwide, Inc.

--Big Heart Pet Brands

--DineEquity, Inc.

The interactive recovery analysis worksheets are available at 'www.fitchratings.com' under the following headers:

Sectors then Corporate Finance then Corporates then Research

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Recovery Ratings and Notching Criteria for Non-financial Corporate Issuers' (November 2013);

--'Corporate Rating Methodology' (May 2014);

--'US Food, Beverage, Tobacco and Restaurants - Recovery Rating Methodology' (March 2008).

Applicable Criteria and Related Research: U.S. Food and Restaurant Recovery Models (First-Quarter 2014)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753212

US Food, Beverage, Tobacco and Restaurants - Recovery Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=379286

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=721836

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Carla Norfleet Taylor, CFA, +1 312-368-3195

Director

Fitch Ratings, Inc.

70 W. Madison Street

Chicago, IL 60602

or

Judi M. Rossetti, CFA, CPA, +1 312-368-2077

Senior Director

or

Wesley E. Moultrie, II CPA, +1 312-368-3186

Managing Director

or

Media Relations:

Brian Bertsch, +1 212-908-0549

brian.bertsch@fitchratings.com

Source: Fitch Ratings


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