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S&P cuts OSI Restaurant
S&P said it corrected its issuer credit rating on OSI Restaurant Partners LLC.
On March 19, S&P lowered the ratings on OSI's parent organization Bloomin' Brands Inc. to BB- from BB and placed the ratings on CreditWatch with negative implications.
“Due to an error, we did not lower the ratings on OSI, a co-borrower on the company's rated credit facilities. We are correcting the rating by lowering the issuer credit rating on OSI by one notch to BB- from BB and maintaining the negative CreditWatch listing,” said S&P in a press release.
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