Disney Raises Another $11 Billion in Debt
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variety.comBy Cynthia Littleton Business Editor Disney has raised another $11 billion in debt to help the company power through the revenue crisis spurred by the global coronavirus pandemic.
On the same day that Shanghai Disneyland reopened at a fraction of its typical capacity after a nearly four-month closure, Disney tapped the debt markets for a series of notes that come due between 2026 and 2060.
The debt raise spurred a new round of ratings commentary on Disney from the major credit arbiters. Fitch Ratings gave the debt issue a grade of A minus with a negative outlook given the short-term headwinds facing the company. “Disney has the ability to mitigate the impact to cash flow and liquidity through a variety of levers.
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