Luv2Roam
DIS Veteran
- Joined
- Jun 3, 2000
FINANCE & BANKING
Disney downgraded. In a move that placed $14 billion in Disney debt a few steps above junk bond status, Fitch cut Disney's rating from "A-" to "BBB+" and placed the media giant's credit on a "negative" status.
The New York ratings agency cited Disney's $5.2 billion acquisition of the Fox Family Channel.
Disney responded to the move by emphasizing recent debt-cutting measures, which have included slashing capital expenditures by 30 percent percent to $1.25 billion.
Disney downgraded. In a move that placed $14 billion in Disney debt a few steps above junk bond status, Fitch cut Disney's rating from "A-" to "BBB+" and placed the media giant's credit on a "negative" status.
The New York ratings agency cited Disney's $5.2 billion acquisition of the Fox Family Channel.
Disney responded to the move by emphasizing recent debt-cutting measures, which have included slashing capital expenditures by 30 percent percent to $1.25 billion.
