Why did Burger King rally on 06 April?
Answer
Answer
Answer
Burger King long term ratings outlook was upgraded by ICRA from “Negative” to “Stable”. This upgrade is suggestive of the significant improvement in solvency after Burger King prepaid its entire debt with IPO funds. Burger King IPO had received tremendous response and still quotes at a big premium to issue price. The stock was sharply up on 06 April.