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McDonald's franchisee credit not in jeopardy
September 23, 2008
CNN Money: Bank of America has denied reports that it is no longer extending new lines of credit to McDonald's Corp. franchisees. A spokesman said the bank will honor its obligations to franchisees who are spending up to $100,000 for McDonald's specialty beverage rollouts.
McDonald's stock fell Monday on reports that Bank of America had halted the issuance of new lines of credit to franchisees.
Read also, McDonald's stocks fall after report of credit crunch, McDonald's CEO happy with drink rollouts.
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