NEW YORK Standard & Poor’s Rating Services assigned Outback Steakhouse parent OSI Restaurant Partners Inc. non-investment-grade credit ratings, with a negative outlook, because of its “highly leveraged” capital structure as the restaurant operator prepares for its $3.2 billion buyout. That rating is sometimes known as junk-grade. OSI’s ratings, which included separate outlooks for its corporate credit, its planned $1.3 billion bank facility and its planned $700 million unsecured ...
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