Moody’s Investors Service (“Moody’s”) today upgraded 1011778 B.C. Unlimited Liability Co. (“1011778 B.C.”) Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD, senior secured first lien bank ratings and senior secured first lien note ratings to Ba2 from Ba3, and secured second lien notes rating to B2 from B3. Moody’s also upgraded Tim Hortons Inc.’s senior unsecured legacy notes rating to B1 from B2.
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