Fitch rates McDonald's notes at 'A' |
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Published
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Mon, 15 Oct 2007 20:28
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NEW YORK (AP) - Fitch Ratings on Monday assigned an investment-grade rating of 'A' to McDonald's Corp.'s proposed issue of $1.5 billion of senior unsecured notes.The world's largest fast-food chain plans to use proceeds for general corporate purposes.Fitch also maintains an 'A' rating on the company's senior unsecured debt, bank credit facility and long-term issuer default rating. The company's subordinated debt is rated 'A-' and its short-term issuer default rating is 'F1.' All are investment-grade ratings.The ratings reflect McDonald's substantial and growing cash flow resulting from same-store sales growth and profitability, leading position in the market and well-established franchise network, Fitch said.The outlook on the company's ratings is stable.McDonald's shares fell 74 cents to $56.28 in afternoon trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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S C Termoelectrica debt affirmed at 'BBB' with stable outlook - Fitch 