Paramount Debt Deal Draws Fitch Downgrade — SkimNews
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- Paramount completed a large debt deal that Bloomberg reports offers few structural safeguards to investors backing the transaction
- Fitch cut Skydance's credit rating over the heavy debt load, integration risk, and execution risk, as Skydance Corporation's exchange and tender offers reached their expiration, pricing, and settlement
Why it matters: Bondholders in this paper get hit from both sides simultaneously: Fitch downgraded the issuer over debt load and execution risk on the very deal Bloomberg says gives investors minimal structural protections — meaning downside risk lands without a covenant cushion.
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