Paramount Has Some Big Checks To Write In 2024, With Its Credit Rating Still Under Scrutiny, S&P Global Analyst Says: “They Have To Show A Path”
deadline.comParamount Global will start 2024 with some big bills to pay and questions swirling about its creditworthiness, in the view of a veteran S&P Global analyst.
Naveen Sarma, S&P’s Senior Director and Sector Lead for the U.S. Media and Telecom Sectors, was one of four analysts from the firm taking part in a panel discussion Tuesday at the UBS Global Media and Communications Conference.
In addition to Paramount, the session touched on major challenges faced by Dish Networks, Altice USA and the broader media sector as economic models continue to shift.
Earlier this year, Sarma noted, Paramount’s credit rating was lowered from BBB to BBB-, which is the “bottom end of what we would call investment grade.” The primary motivation for the move was weaker cash flows resulting from the transition from linear TV to streaming.
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