Fitch Ratings said Monday that it has affirmed DineEquity, Inc.'s (DIN) long-term Issuer Default Rating at 'B'.
The Rating Outlook is Stable.
Fitch said DineEquity's ratings balance the company's high financial leverage with its consistent free cash flow (FCF) generation, national scale, and leading market share in the U.S. casual dining and family dining categories.
The ratings incorporate the firm's financial strategy which following the successful completion of its refranchising program in October 2012 reflects an increased emphasis on returning cash to shareholders, the rating agency said.
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