With Paramount Global’s stock price falling more than 15% since Tuesday, when Shari Redstone's National Amusements put the kibosh on a proposed sale of the studio to David Ellison's Skydance Media, research firm CreditSights is predicting that Moody’s will join S&P Global Ratings in downgrading Paramount’s credit rating to junk status by the end of 2024.
Paramount was already downgraded in March by S&P, which cited the rationale of a debt load of around $14.6 billion, combined with declining distribution of linear networks and a subscription streaming platform, Paramount Plus, which lost $1.6 billion in 2023.
