Disney’s Credit Outlook Is Raised by Moody’s
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Walt Disney Co.’s credit outlook was raised to positive from stable by Moody’s Investors Service Inc., which cited debt reduction and a “stronger operating performance” at most divisions.
The credit rating of Burbank-based Disney’s senior unsecured debt was unchanged at Baa1 and its commercial paper rating was reaffirmed at Prime-2, Moody’s said. Barring any disruption to Disney’s businesses, its credit rating probably will be upgraded if the company can keep a favorable debt-to-cash ratio, Moody’s said.
Disney shares fell 43 cents to $28.53 on the NYSE.
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