S&P: Bloomin’ Brands unaffected by add-on

Standard & Poor’s said that Bloomin’ Brands Inc.’s subsidiary, OSI Restaurant Partners LLC’s recent amendment to increase its revolving credit facility to $825 million from $600 million has no immediate impact on its BB corporate credit rating or stable outlook.

The company upsized the revolver in order to fully pay down its existing term loan B, S&P said. The amendment would save the company in interest costs, but does not have a meaningful impact on its credit ratios.

The amendment also does not affect any meaningful aspects of the credit agreement, including maturity and financial covenants, the agency added.

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