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Prospector
Profile
211-03
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| El Pollo Loco, Inc. |
NAICS |
722110 |
| 3333 Michelson Dr., Suite 550
Irvine, CA 92612 |
Description |
Restaurants |
| (949) 399-2000 |
Employees |
3800 |
| http://www.elpolloloco.com/company/whatisepl.html |
Revenue |
(mil) |
219.0400 |
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Income |
(mil) |
3.7500 |
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Assets |
(mil) |
163.9500 |
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Liability |
(mil) |
163.9400 |
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(for the year ended 2004-12-31) |
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Category:
Low Rating
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Event:
Moody's Investors Service confirmed El Pollo Loco, Inc.'s corporate family rating of B3, as well as the Ba3 rating on El Pollo's senior credit facilities and Caa1 rating on the company's senior unsecured notes. The speculative grade liquidity rating remains as SGL-4 and the rating outlook is negative. The rating action concludes the review for downgrade initiated on December 5, 2007. This confirmation follows Moody's last rating action when El Pollo's ratings were placed on review for downgrade in December 2007, which was prompted by concerns on the company's liquidity primarily stemming from an unfavorable judgment entered in a trademark dispute against the company.
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Intellectual Property:
The Company has registered the names El Pollo Loco, Pollo Bowl and certain other names used by its restaurants as trademarks or service marks with the United States Patent and Trademark Office and in approximately 42 foreign countries. The contractual rights to use the name El Pollo Loco and certain related trademarks and intellectual property in Mexico were assigned to the Company in 1996, pursuant to an agreement with a company controlled by Jose Ochoa, the founder of the first El Pollo Loco restaurant in Mexico. As consideration for the assignment, the Company agreed, subject to the terms and conditions of the agreement, to develop a minimum number of restaurants in Mexico by February 2006 and to pay certain fees for each restaurant that it develops. In April 2004, El Pollo Loco, S.A. de C.V. suit against the Company in state court in Laredo, Texas alleging, among other things, that the Company breached the agreement with EPL-Mexico by failing to develop new restaurants in Mexico and claiming that the right to use the name El Pollo Loco in Mexico should revert to EPL-Mexico. EPL-Mexico also challenged ownership of the trademarks before the Mexican Intellectual Property Institute, which challenge was unsuccessful. [SEC Filing 10-K 03-29-05]
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Description:
El Pollo Loco, Inc. operates a quick service restaurant chain specializing in marinated, flame-grilled chicken.
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Officers:
David L. Horing (Chair); Stephen E. Carley (Pres., CEO & Dir.); Joseph Stein (VP & CFO); Karen Eadon (VP & Chief Mktg. Officer)
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Auditor:
Deloitte & Touche LLP
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Securities:
100 common shares outstanding as of Nov. 10, 2005.
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Notes:
There is no established public trading market for the common stock of the company.
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