TEXT-S&P comments on Burger King Corp
April 5 - Standard & Poor's Ratings Services said today that the announcement by the parent of Burger King Corp. (B/Stable/--), Burger King Worldwide Holdings Inc., that it has reached a definitive agreement to sell an approximate 29% stake of the company for about $1.4 billion to Justice Holdings Ltd. (Justice), does not affect the ratings on Burger King Corp. at this time.
We believe that the sale proceeds will monetize the equity investment of Burger King's majority shareholder, 3G Capital, and will not be used toward debt reduction. The transaction does not affect our view of the company's financial risk profile. We also believe that Burger King's strategic initiatives will not change as a result of Justice's investment and board representation.
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