1011778 B.C. Unltd Liability Co. -- Moody's upgrades 1011778 B.C., owner of Burger King and Tim Horton's CFR to B1

New York, May 13, 2015 -- Moody's Investors Service today upgraded 1011778 B.C. Unlimited Liability Company's (1011778 B.C.) Corporate Family Rating to B1 from B2 and Probability of Default Rating to B1-PD from B2-PD. Moody's also upgraded the company's guaranteed senior secured 1st lien revolving credit facility and guaranteed senior secured 1st lien term loan to Ba3 from B1 and its guaranteed senior secured 2nd lien notes to B3 from Caa1. In addition, Moody's assigned a Ba3 rating to the company's proposed $1.25 billion guaranteed 1st lien senior secured notes due 2022. The company's SGL-1 Speculative Grade Liquidity Rating was affirmed. The outlook is stable.

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