By far the largest quick service restaurant (QSR) chain in the U.S. and industry leader in many international markets. Sizable marketing budget for second half of 2020 helping drive sales, with about 2,000 dining rooms recently remaining open in the U.S. Continuing to execute on improvements in drive-thru and delivery capabilities in recent years, in addition to accelerating global sales through aggressive pricing, promotions and menu updates. Leading industry average unit volumes and restaurant level operating margins, with recent comparable sales growth from larger orders. The COVID-19 pandemic is disrupting global operations in varying degrees. S&P Global Ratings' lease adjusted leverage remains elevated in the mid-4x area given this year?s volatile performance, relative to the high-3x area we were originally
