NEW YORK (Standard&Poor's) Sept. 5, 2006--Standard&Poor's Ratings Services said today its ratings and outlook on McDonald's Corp. (A/Stable/A-1) are unaffected by the company's receipt of a notice that Pershing Square Capital Management L.P. or its affiliates filed the necessary notifications under the Hart-Scott-Rodino Antitrust Improvements Act to acquire in excess of $793.8 million of McDonald's shares. The potential for Pershing to own over 5% of McDonald's shares is not a rating factor unless it can exert influence over the company. Standard&Poor's will watch the pace of Pershing's investments in McDonald's as well as any proposals it makes regarding changes in operations or financial policy.
