Cajun Global LLC $210 Million Notes Series 2017-1 Assigned Preliminary Ratings

Stocks and Financial Services Press Releases Tuesday May 16, 2017 10:07
CHICAGO--16 May--S&P Global Ratings
OVERVIEW
  • Cajun Global LLC's series 2017-1 issuance is backed by existing and future franchise agreements and related franchisee royalties and fees, royalties on existing and future company-owned restaurants, operating profit (less royalties) from existing and future company-owned restaurants, and existing and future intellectual property.
  • We assigned our preliminary ratings to the class A-1 and A-2 notes.
  • The preliminary ratings reflect our view of the transaction's structure, projected cash flows, and the strength of Church's Chicken brand, among other factors.
CHICAGO (S&P Global Ratings) May 15, 2017--S&P Global Ratings today assigned its preliminary ratings to Cajun Global LLC's $210 million senior secured notes series 2017-1 (see list).

The note issuance is backed by existing and future franchise agreements and related franchisee royalties and fees, royalties on existing and future company-owned restaurants, operating profit (less royalties) from existing and future company-owned restaurants, and existing and future intellectual property.

The preliminary ratings are based on information as of May 15, 2017. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

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