By Jill Goldsmith Giant ratings agency Moody’s Tuesday outlined the massive financial hit Disney is taking in the current coronavirus pandemic but said the company has enough cash to weather the disruption. “No change in ratings or outlook (at this time).
Liquidity reins supreme,” said Moody’s SVP and lead entertainment analyst Neil Begley. He said Disney has a total of $12.25 billion of revolver capacity, presently undrawn except to backstop its outstanding commercial paper, It also has a sizable cash balance.
That’s more than enough to cover bond maturities through the end of the fiscal year of about $2,4 billion. “We also expect the company will endeavor to control costs, delay capital expenditures and pay significantly lower taxes for
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