Paramount Global‘s credit rating has been lowered to junk status by S&P Global, which cited the toll of ongoing pay-TV declines as a key factor in the downgrade. The company said Wednesday it dropped Paramount’s rating to BB+ from BBB- due to the “accelerating declines in linear media and the shift toward a more competitive and less certain streaming model.”
Paramount Global will start 2024 with some big bills to pay and questions swirling about its creditworthiness, in the view of a veteran S&P Global analyst Naveen Sarma.
Fitch Ratings has put The Walt Disney Co. on credit watch, with a negative outlook, over concerns about how the Hollywood studio will weather the coronavirus outbreak in the near term.
Moody’s Investors Service has placed CBS and Viacom debt ratings up for review, adding that it will likely downgrade the broadcaster’s overall credit rating while boosting that of Viacom’s.
