S&P Slashes Paramount's Credit Rating to Junk Status on Linear Declines and Streaming Uncertainty

• S&P Global cut Paramount Global's credit rating to junk status, citing declines in linear media and uncertainties with streaming • S&P warned last month that a downgrade was possible due to changes in its ratings metrics • Paramount's free cash flow ratio is forecast to be below 10%, raising concerns about its financial health • Declines in linear TV and potential for more streaming competition could lead to further downgrades • Paramount's stock price has dropped significantly since the 2019 ViacomCBS merger, despite takeover interest