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Standard and Poor's is considering lowering its long-term debt ratings on


(MCD) - Get McDonald's Corporation Report

after it set plans to close 175 restaurants and cut additional jobs.

S&P said its review covers McDonald's single A-plus long-term corporate credit, senior unsecured debt, senior unsecured bank loan ratings and its class A subordinated rating. The company had $9.6 billion of debt as of June 30, S&P said. On top of a previously announced restructuring, the fast-food giant said on Friday that it would exit operations in three countries and close 175 underperforming restaurants. It also set plans to cut up to 600 jobs.

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"Although these steps may ultimately bring about some improvement, we remain concerned that earnings are still being challenged by lackluster growth in the U.S. and problems internationally," Standard & Poor's credit analyst Gerald Hirschberg wrote in a research note. "The company's domestic competitors have made inroads in terms of actual or perceived quality, service, and cleanliness, and there has been a decided slowdown in the company's growth rate," he added.



component's shares were down 39 cents, or 2.2%, at $17.40 in recent trading on the

New York Stock Exchange.