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.