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Arby's Restaurant ratings on negative watch after bid for Wendy's - S&P

November 16, 2007
Standard &Poor's Ratings Services signalled it may lower its ratings on Arby's Restaurant Group Inc on news that Triarc Companies Inc, of which Arby's is a wholly owned unit, has bid to buy all outstanding stock of Wendy's International Inc.

'Although the terms of proposed transaction are not yet known, we believe that it will be primarily a cash transaction financed with debt, and that this would likely increase the financial risk at Arby's,' said S&P's credit analyst Charles Pinson-Rose.
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Arby's Restaurant Group, Inc., based in Atlanta, is the franchisor of the Arby's restaurant system, which consists of more than 3,500 restaurants worldwide.
The Wendy's brand is since September 30, 2008 owned by Wendy's Arby's Group Inc. Wendy's Old Fashioned Hamburgers® is the third largest quick-service hamburger restaurant chain in the world, with more than 6,700 restaurants in North America and international markets.
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