Fitch Moves Paramount Into Junk Territory, Flags Warner Bros Acquisition as Key Uncertainty
Fitch downgraded Paramount Skydance Corp and Paramount Global to non-investment grade and placed ratings on Rating Watch Negative, pointing to media-sector competitive pressure, transformation-related cashflow strains and uncertainty over the debt-funded acquisition of Warner Bros. The agency warned of further downgrades while Moody’s and S&P Globa…