McDonald’s Sales Are Rising, But Credit Profile Isn’t Any Better
Carol Levenson of independent bond research firm Gimme Credit keeps her “underperform rating” on the bonds in a Monday report.
She notes that U.S. sales growth comparisons will get tougher as it has now been just over a year since all-day breakfast was introduced. Also, the company benefited from margin expansion due to lower commodity prices and some price increases. Those won’t repeat, making margin comparisons tougher going forward