Applebee’s
Casual DiningDIN$37.22+3.8%
Not rated
Casual Dining
Outback Steakhouse
Parent: Bloomin’ Brands, Inc. · Public parent; mostly company-operated
Nasdaq: BLMN$10.28+5.4%close Nov. 9, 2026
Credit rating · Bloomin’ BrandsB1 High yield
AAAAAABBBBBBCCCD
Investment gradeHigh yield
Moody’s, as of Downgraded from Ba3, July 30, 2026 · Outlook stable. Source: Investing.com report of Moody’s action
EmployeesNot verifiedNo verified source
HeadquartersTampa, FloridaCasual Dining
New Initiatives
How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.
Opened 15 Outback restaurants in 2025, plans about six in 2026 and plans to remodel nearly all Outback restaurants by the end of 2028.
Source: Bloomin’ Brands, Inc. Form 10-K (filed Feb. 25, 2026)
Outback Steakhouse is the largest brand of Bloomin’ Brands, which also owns Carrabba’s, Bonefish Grill and Fleming’s. Bloomin’ sold a majority of its Brazil business and suspended its dividend in 2025 as it works through a turnaround.
Store count
659 as of Q2 2026
-1.9%/yr annualized over 2.3 yrs (Dec 2023 to Apr 2026)U.S. Outback Steakhouse restaurants, company-owned plus franchised, brand level (2020 and 2021 not broken out in the text we parsed). Counts as reported at each period end. Sources: Bloomin' Brands 10-K filings (U.S. Outback Steakhouse restaurants, company-owned plus franchised); Bloomin’ Brands second-quarter 2026 results.
What’s changing
Bloomin’ plans about 85 Outback refreshes in 2026. Source: Bloomin’ Brands second-quarter 2026 results
Moody’s downgraded Bloomin’ Brands to B1 from Ba3. Source: Investing.com
SEC Filings
Filings by parent Bloomin’ Brands, Inc.. Outback Steakhouse does not file on its own. All filings on EDGAR
| Period | Form | Filed | Document |
|---|---|---|---|
| Fiscal year ended Dec. 28, 2025 | 10-K | Feb. 25, 2026 | View on sec.gov |
| Fiscal year ended Dec. 29, 2024 | 10-K | Feb. 26, 2025 | View on sec.gov |
| Fiscal year ended Dec. 31, 2023 | 10-K | Feb. 28, 2024 | View on sec.gov |
| Fiscal year ended Dec. 25, 2022 | 10-K | Feb. 22, 2023 | View on sec.gov |
| Latest quarter, period ended June 28, 2026 | 10-Q | Aug. 6, 2026 | View on sec.gov |
Credit ratings
| Agency | Rating | Outlook | As of | Source |
|---|---|---|---|---|
| Moody’s | B1 | Stable | Downgraded from Ba3, July 30, 2026 | Investing.com report of Moody’s action |
| S&P Global | B+ | Downgraded from BB-; action date not verified | S&P Global Ratings research update |
Bond market context
| Issuer bond yield | Unavailable. No free, licensed source for individual bond yields. |
|---|---|
| B index effective yield | 8.25% (Nov. 6, 2026; ICE BofA Single-B US High Yield Index) |
| B index spread (OAS) | 361 bps over Treasuries; 328 bps a year earlier (FRED) |
| 10-year Treasury | 4.88% (Nov. 9, 2026) |
The index row shows the yield on single-B-rated U.S. corporate bonds as a group, the closest free benchmark for this rating category. It is not the yield on this company’s own bonds.
Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.
Casual Dining
