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Paramount Credit Downgrade Expected After Warner Merger, S&P Says

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Source: Variety
Paramount Credit Downgrade Expected After Warner Merger, S&P Says
Photo: Variety
TL;DR Summary

S&P Global Ratings says Paramount’s junk-status debt will be downgraded to BB when its Warner Bros. Discovery merger closes, as the combined group is expected to carry very high leverage (about 7.6x adjusted debt/EBITDA in 2026, not projected below 5x until 2029) and faces integration and regulatory risks; Paramount would assume roughly $30B of WBD net debt on top of its own, with potential $6B in cost synergies that may take time to realize.

Topics:entertainment#business#junk-status#leverage#paramount#sp-global-ratings#warner-bros-discovery
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  1. Paramount Junk-Status Credit to Be Lowered With Warner Bros. Merger  Variety
  2. S&P Global Will Lower Paramount’s Credit Rating Even More After Warner Bros. Merger  TheWrap
  3. Paramount Skydance-WBD Merger Triggers S&P Downgrade  Radio & Television Business Report
  4. Paramount’s Junk-Status Credit Rating To Be Downgraded Further Following Warner Bros. Merger  TV News Check
  5. Paramount’s Junk-Status Credit Rating to Be Downgraded Further Following Warner Bros. Merger to Reflect ‘Major Ongoing Uncertainties,’ S&P Global Says  IMDb

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