"Given the volatility this pandemic has generated ... ratings on more vulnerable companies could be subject to multiple ratings actions," S&P says
The continued spread of the novel coronavirus pandemic has already taken a massive toll on the bottom lines of media and entertainment companies. As companies continue to look for ways to stay afloat and survive the economic downturn, some have to worry about faltering credit ratings.
As of March 26, the latest comprehensive analysis available, S&P Global has already taken more than 25 ratings actions on companies identified as being the most vulnerable within the media and entertainment industry, which also includes event organizers, live-events companies, travel-related companies and movie exhibitors. When accounting for cruise lines and other entertainment companies, S&P has taken some 73 credit actions globally.