Fitch Ratings has downgraded several categories of Disney evaluations, including the Long-Term Issuer Default Rating (IDR) assigned to The Walt Disney Company and its subsidiaries to ‘A-̵…
has downgraded several categories of Disney evaluations, including the Long-Term Issuer Default Rating assigned to The Walt Disney Company and its subsidiaries to ‘A-‘ from ‘A’.
The downgrades are based on Fitch’s assessment of Disney’s financial flexibility. The ratings giant also said it anticipated a “sharp and meaningful rebound” once pandemic conditions eased.Walt Disney Co. Bob Iger's Memoir On Apple: "If Steve Were Still Alive, We'd Have Combined Our Companies" Fitch’s base case assumes domestic parks reopen on or about July 1, subject to guest density and park capacity limitations.
Fitch’s ratings actions were undertaken by the expectation that the coronavirus pandemic will materially weaken Disney’s operating and credit profile through the remainder of the company’s fiscal year 2020 and into its fiscal year 2021.
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