Subordinated Secured Corporate Bond
Outlook: No Trend
Action date: 01/20/2022
Rating action: Withdrawal
The credit rating has been withdrawn due to a client's request.


Restabell operates as masterfranchise of Taco Bell brand in Spain. Revenues reached € 47.2MM in 2019 (+40.8% YoY) and EBITDA was € 3.8MM with an EBITDA margin of 8.1%. NFD/EBITDA ratio stood at 5.4x at year end. In 2018, Restabell issued a bond program (subordinated secured) in the MARF with a maximum limit of € 15MM. This has expired and has been amortized on January 20, 2022.


ISIN: ES0305371009
Date last rating: 07/18/2018
Date first rating: 07/18/2018