The Walt Disney Co.#s Proposed $500 Million Senior Unsecured Debt Securities Rated #A+#

Stocks and Financial Services Press Releases Wednesday September 6, 2017 17:48
CHICAGO--7 Sep--S&P Global Ratings

CHICAGO (S&P Global Ratings) Sept. 6, 2017--S&P Global Ratings today assigned its 'A+' issue-level rating to Burbank, Calif.-based diversified media and entertainment company The Walt Disney Co.'s proposed $500 million senior unsecured debt securities. The company's proposed offering will consist of five-year fixed-rate notes, and it will use the net proceeds for general corporate purposes.

Our 'A+/A-1+' corporate credit ratings on Disney reflect the company's leading, wide-ranging creative franchises and distribution capability, its solid market positions, and the broad diversity in its media and entertainment businesses. Disney is the preeminent company for monetizing intellectual property across a broad base of businesses.

Disney's adjusted leverage was 1.5x as of June 30, 2017, and we expect leverage to remain in the mid-1x area over the next two years. The company also has good cash flow generating ability, exceptional liquidity, and a financial policy that balances conservative credit metrics with shareholder returns and acquisitions.

The stable rating outlook on Disney reflects our expectation that the company's overall business performance will remain strong, particularly at its film and TV studio division and the cable networks, despite facing secular pressures in the U.S. We also expect that management will maintain its current financial policy, with adjusted leverage below 2x.

Latest Press Release

AEON partners with JCB to launch AEON J-Premier Platinum Credit Card to offer exclusive privileges throughout Thailand and Japan

AEON Thana Sinsap (Thailand) Public Company Limited partners with JCB International (Thailand) Co., Ltd. to launch "AEON J-Premier Platinum Credit Card" that will allow Thais to enjoy everything Japan, with exclusive privileges and offers in dining,...

China and Europe post double digit increases in RD spending

- China and Europe increase R&D spending the most as global R&D investment reaches US$782bn - 88 companies outperform industry peers on sustained financial success with modest R&D spend - Amazon retains top spot as world's largest corporate...

Photo Release: EXIM Thailand Hosts 6th Council of Specialized Financial Institutions Meeting in 2018

Mr. Pisit Serewiwattana (forth right), President of Export-Import Bank of Thailand (EXIM Thailand), welcomed Mr. Pornchai Triraveja (fifth right), Fiscal Policy Advisor of Fiscal Policy Office (FPO), and Mr. Chatchai Sirilai (fifth left), President of...

Kinesis Money and Allocated Bullion Exchange Explore Creating a Joint Commercial Blockchain Venture with Jakarta Futures Exchange in Indonesia

Today, Jakarta Futures Exchange (JFX), the leading futures and derivatives exchange group in Indonesia, have announced an expanded Memorandum of Understanding (MOU) with Kinesis Money and Allocated Bullion Exchange (ABX). The partnership will seek to...

Photo Release: SCB and Mae Fah Luang University Make Headway for Cashless Society with Smart University Program

"The Siam Commercial Bank (SCB)", the leader in digital lifestyle banking, continues to pave way for a cashless society at universities across Thailand. The partnership with Mae Fah Luang University continues its "Smart University" program. MFU App is...

Related Topics