S&P downgraded fast food giant McDonald's credit rating to "A-" with a stable outlook on Monday.
"The return to shareholders of about $8.5 billion this year will necessitate higher leverage than we forecast and represents a more aggressive shift toward shareholders returns than we previously assumed," according to a release.
As part of McDonald's plan to turnaround its business, the fast food giant plans to accelerate refranchising and overhaul its organizational structure to juice company results and modernize the fast food giant's struggling operations, CEO Steve Easterbook said Monday.
McDonald's plans to increase its franchise mix to 90 percent of its locations by 2018 from the current 81 percent as the company embarks on an "urgent need to reset this business," Easterbrook said in a video Monday, warning that progress will be "bumpy and uneven." The restaurant is also reorganizing its structure into four segments: U.S., international lead markets, high growth markets and foundational markets.