From the article- "McDonald's borrowed rampantly to meet its promised goal to shareholders. The action seriously degraded the company's previously sterling corporate bond credit rating. McDonald's is still considered investment-grade, the rating assigned to the most creditworthy of corporate debt issuers, though just barely. Its rating fell to "BBB" status at the major debt rating agencies during the buying program, just a few notches above non-investment-grade, or "junk" status. It remains at these levels today." It is EXTERMELY unwise to borrow billions to fund buy backs and sweeten dividends. Shame on the Board for allowing this !
The board makes their money off the stock their responsibility is to the shareholders absolutely no one else. The CEO has that responsibility to please franchisees, suppliers run the company.
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