Wendy’s International staring at downgrade
Moody’s blames poor same-store sales and increased competition for its review
Dublin, Ohio-based Wendy’s International, the US’s third-largest burger chain, has been placed on a long-term review for possible downgrade by Moody’s Investor’s Service to “address company challenges” based on negative same-store sales trends and a more competitive environment.
Peggy Holloway, senior credit officer and restaurant analyst at Moody’s, says the review was based on Wendy’s leverage numbers, which she indicates are slightly too high for its current rating category of Baa1. Moody’s
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