21.09.2016 00:08:00
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Steak n Shake Inc. -- Moody's revises Steak n Shake's outlook to negative; assigns B2 rating to proposed senior secured notes
New York, September 20, 2016 -- Moody's Investors Service, ("Moody's") revised the rating outlook of Steak n Shake Inc. to negative from stable and affirmed its B2 Corporate Family Rating, B2-PD Probability of Default Rating and the B1 rating on the company's existing senior secured bank facility. At the same time, Moody's assigned a Ba2 rating to the company's proposed $10 million priority senior secured revolver and a B2 to its proposed $400 million senior secured notes.