Moody’s Investors Services has downgraded Eutelsat’s credit and debt rating, and cautions that further downgrades could be applicable once Eutelsat completes its merger with OneWeb. The June 15th downgrade is to Ba1 from Bss3, and covers the ratings on Eutelsat’s senior unsecured debt instrument ratings issued by Eutelsat SA, including the €800 million and €600 […]
Endeavor Group, the owner of UFC, and World Wrestling Entertainment (WWE) are to form a new publicly listed company consisting of the two global sports and entertainment brands. Upon closing , Endeavor will hold a 51 per cent controlling interest in the new company, at a cost of $9.3 billion (€8.5bn). Existing WWE shareholders will […]
No regular reader will doubt that I’ve never exactly over-indulged on the Netflix Cool-Aid, so the latest news isn’t a big surprise. Price rises in a cost-of-living crisis and plateaued content offerings (both quality and quantity), matched with inflation in production, were never going to be a good mix. Add in vociferous competition and the […]
Moody’s Investors Service credit ratings agency has given a “negative outlook” to certain debt owed by satellite operator SES. Moody’s overall rating is their Baa2 rating on SES SA and SES Global Americas Holdings GP. Moody’s says the outlook for both entities remains negative. “The ratings affirmation reflects the slower reduction in the company’s revenues, […]
SES has issued a €625 million hybrid bond priced at a coupon of 2.875 per cent with a reset date of August 27th 2026. SES says the instrument’s credit ratings are expected to be Ba1/BB with Moody’s and Standard & Poor’s respectively. “Proceeds of the issuance will be used for general corporate purposes which includes […]
Spain’s Mediapro will struggle for the cash to get through the next six months, according to US credit rating company Moody’s. Moody’s says that Mediapro is lacking the cash for payments due over the next six months, reports OK Diario. Mediapro will have “a liquidity deficit of at least €225 million for the next six […]
In-Flight Entertainment and broadband communications supplier, Global Eagle Entertainment (GEE) has entered Chapter 11 bankruptcy. The company had been clear in the recent past that the near-total collapse of the world’s airline and related passenger traffic was putting the business under strain. Moody’s Investors Services had downgraded GEE’s rating to PD/LD which translates as a […]