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Debt Help By Armando Duke

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Counseling Debt (AXcess News) Houston, TX - Burger King Holdings, Inc, parent company to one of the nation's largest fast-food chains, said it plans to sell shares to the public to gain ground lost to competitors, McDonalds Corp (NYSE: MCD) and Wendy's International (NYSE: WEN).

A new online debt test has been launched by the BBC, the FSA (Financial Services Authority) and credit rating firm Experian.

Consolidation Consumer Debt The IPO is the first time in the company's 52-year history that it will sell shares to the public.

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Debt Settlement CEO Greg Brenneman said Burger King plans to file its registration statement with the Securities and Exchange Commission with an IPO window set for March.

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Debt Free S&P estimated the value of Burger King's IPO to be $600 million.

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Consolidation Debt Service "Our goal has always been to take Burger King public," Brenneman said in a statement. "We believe the transparency and stability in ownership offered by being a public company will benefit our employees and franchisees for years to come."

Company Consolidation Debt While Brenneman said it has always been Burger King's goal to float an IPO, Burger King Holding, Inc. has taken its own sweet time in getting around to it after a half century in business. Many investors have speculated for years that Burger King would set an IPO into motion, now they're going to see if the stock's worth it. S&P thinks it is.

Consolidation Debt Online Standard & Poor's said it placed Burger King's B+ rating on CreditWatch for possible upgrade after the announcement.

Consolidation Debt Free The proceeds from Burger King's IPO will be split between the company and its investor group (Texas Pacific Group, Bain Capital, and Goldman Sachs Capital Partners). Burger King will use the majority of its proceeds to repay the $350 million add-on to term loan B.

Debt Problem "If the transaction is successfully completed as proposed, and the company operating results improve such that leverage falls to less than 5x in fiscal 2006, all ratings would be raised to a 'BB-' and a stable outlook would be assigned. If the company is not successful with the IPO, ratings would most likely be affirmed at 'B+', with a stable outlook," wrote Standard & Poor's credit analyst Diane Shand in S&P news release posted earlier today.

Credit Debt Of the top three burger chains, only Burger King has never reaped the benefits of being a publicly traded company. Burger King was long the second-largest hamburger chain behind No. 1 McDonald's, but it fell into a tie for No. 2 with Wendy's in 2004.

Advice Debt Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners, bought Burger King in 2002 for $1.5 billion. With the three equity groups standing to reap half of the IPO's cash, they're still into the deal for over $1 billion, but at least their stock will have some market liquidity.

Card Credit Debt Eliminate Burger King stands with $1.4 billion in funded debt. The recovery rating on Burger King Holding's $1.496 billion credit facility was lowered to '3' from '2'. The rating and recovery rating indicate the expectation for meaningful (50%-80%) recovery of principal in the event of a payment default. At the same time, Standard & Poor's placed its ratings on Burger King, including the 'B+' corporate credit and bank loan ratings, on CreditWatch with positive implications.

Debt Recovery "The lower bank recovery rating is attributable to the increased debt the company will have to cover," said Shand.

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