Research Update: McDonald's Corp. May 03
- ID: 1872235
- May 2003
- Standard & Poors
On May 8, 2003, Standard & Poor's Ratings Services lowered its long-term corporate credit and senior unsecured debt ratings on Oakbrook, Ill.-based McDonald's Corp. to 'A' from 'A+', and lowered its subordinated debt rating to 'A-' from 'A'. The ratings are removed from CreditWatch, where they had been placed Nov. 11, 2002, with negative implications. The short-term corporate credit and commercial paper ratings on McDonald's were affirmed at 'A-1'. Approximately $10.0 billion of debt was outstanding at Dec. 31, 2002. The outlook is negative. The downgrade is based on McDonald's disappointing results in 2002, and Standard & Poor's opinion that management faces significant challenges in successfully implementing a number of important strategic changes that are designed to revitalize McDonald's worldwide...
Companies mentioned in this report are: McDonald's Corp.
Action: Downgraded, Off CreditWatch
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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