Paramount Global Cut To Junk By S&P; Shares Spike Lower
Portfolio Pulse from Benzinga Newsdesk
S&P has downgraded Paramount Global's credit rating to junk status, according to a report by Bloomberg. This downgrade reflects concerns about the company's financial health and its ability to manage debt.
March 27, 2024 | 4:47 pm
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Paramount Global's credit rating was downgraded to junk by S&P, indicating potential challenges in debt management and financial stability.
A downgrade to junk status by S&P is a significant negative signal to investors, indicating increased risk associated with the company's debt and overall financial health. This could lead to a decrease in investor confidence, potentially impacting the stock price negatively in the short term.
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