Bank Of America Says McDonald Franchisee Credit Lines Not Frozen

Chicago Tribune:

Bank of America said late Tuesday it is not freezing any lines of credit to McDonald’s fast-food chain’s franchise owners, despite reports to the contrary.

On Tuesday, a media report cited an internal memo from the No. 1 fast-food chain that said the bank would not increase its existing lending amount to McDonald’s franchisees who were seeking to expand — as part of McDonald’s plans to grow its drink offerings — and advising them to seek other financing options.

But a Bank of America representative said Tuesday any memo that says it’s freezing credit is “factually inaccurate.”