S&P Lowers Disney’s Credit Rating On COVID-19 Economic Uncertainty, Closed Parks

deadline.com:

By Jill Goldsmith S&P Global Thursday lowered Walt Disney’s credit rating to A- (still at the higher end of investment grade) as the company’s theme parks and film and TV studios remain closed by social distancing orders and it’s unclear when they will be allowed to reopen.

The actual hit to operating performance so far will be revealed when Disney reports its January-March quarterly results May 5.

S&P said it doubts Disney theme parks will return to normal capacity at the same rate as the overall economy even after stay-at-home restrictions are lifted because of continued social distancing and consumer concerns about public events.