McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+' - S&P Global Ratings’ Credit Research

McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+'

McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+' - S&P Global Ratings’ Credit Research
McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+'
Published Sep 06, 2022
3 pages (1284 words) — Published Sep 06, 2022
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 6, 2022--S&P Global Ratings today assigned its 'BBB+' issue-level rating to Chicago-based fast food company McDonald?s Corp.'s proposed medium-term notes. McDonald's is targeting a U.S. dollar-denominated issuance, in keeping with its existing capital allocation and funding strategies. Our 'BBB+' long-term issuer credit rating and stable outlook on McDonald's Corp. are unchanged. The stable outlook reflects S&P Global Ratings'-adjusted last-12-month leverage ratio of 3.8x through the latest quarter, with our downside trigger including leverage above 4x. The company's recent earnings for the quarter ended June 30, 2022, were slightly ahead of our expectations, including global comparable sales increasing nearly 10%. It is our view that the overall economic slowdown worldwide and intense food inflation across

  
Brief Excerpt:

...September 6, 2022 NEW YORK (S&P Global Ratings) Sept. 6, 2022--S&P Global Ratings today assigned its '###+' issue-level rating to Chicago-based fast food company McDonald's Corp.'s proposed medium-term notes. McDonald's is targeting a U.S. dollar-denominated issuance, in keeping with its existing capital allocation and funding strategies. Our '###+' long-term issuer credit rating and stable outlook on McDonald's Corp. are unchanged. The stable outlook reflects S&P Global Ratings'-adjusted last-12-month leverage ratio of 3.8x through the latest quarter, with our downside trigger including leverage above 4x. The company's recent earnings for the quarter ended June 30, 2022, were slightly ahead of our expectations, including global comparable sales increasing nearly 10%. It is our view that the overall economic slowdown worldwide and intense food inflation across several categories this year continue to drive customers to the company's value-focused and convenient product offering. Overall,...

  
Report Type:

Ratings Action

Ticker
MCD
Issuer
McDonald's Corp.
GICS
Restaurants (25301040)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+'" Sep 06, 2022. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/McDonald-s-Corp-s-Proposed-New-Medium-Term-Notes-Rated-BBB-2888413>
  
APA:
S&P Global Ratings’ Credit Research. (). McDonald's Corp.'s Proposed New Medium-Term Notes Rated 'BBB+' Sep 06, 2022. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/McDonald-s-Corp-s-Proposed-New-Medium-Term-Notes-Rated-BBB-2888413>
  
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