Moody’s ups Yum! Brands view to stable

Moody's Investors Service said it affirmed Yum! Brands, Inc.'s Ba3 corporate family rating, Ba3-PD probability of default rating, B2 unsecured legacy note rating and SGL-1 speculative grade liquidity rating.

The agency also affirmed KFC Holding, Co.'s Ba1 senior secured revolver and senior secured term loan ratings and B1 senior unsecured note rating.

In addition, Yum's outlook was changed to stable from negative.

"The change in outlook to stable reflects Yum's successful seperation of its China operations and the completion of its recapitalization as planned as well as our view that credit metrics will remain around current levels with leverage of 5.4 times," Moody's senior credit officer Bill Fahy said in a news release.

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