Reported 2 days ago
Moody's Ratings has downgraded Warner Bros. Discovery Inc. to junk status, marking a significant decline for the media giant just a few years after a successful bond sale. The downgrade, prompted by Warner Bros.' decision to separate its streaming business from legacy media channels, affects approximately $31 billion of the company's debt, making it one of the largest potential junk bond issuers. Moody's cites ongoing operational challenges and changes in debt structure as key factors influencing the downgrade.
Source: YAHOO