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Moody's rates McDonald's notes Baa1
Moody's Investors Service said it assigned a Baa1 rating to McDonald's Corp.'s proposed $3.5 billion senior unsecured note offering. All other ratings remain unchanged including McDonald's Baa1 senior unsecured rating. The outlook is stable.
"The Baa1 senior unsecured rating and stable outlook reflect Moody's view that McDonald's will be able to navigate the current operating challenges and maintain strong liquidity despite an expectation for a weakening of earnings and credit metrics over the near term," said Bill Fahy, a Moody's senior credit officer, in a press release.
"In addition, as the economy and operating environment, begin to improve Moody's expects McDonald will focus on strengthening credit metrics through improved earnings, debt reduction and a continued pause on share repurchases," stated Fahy.
Proceeds will be used for general corporate purposes including repayment of maturing debt.
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