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

Photo Release: KBank unveils MADHUB the solution hub for online traders who dare to dream

Mr. Patchara Samalapa, KBank President (center), has launched MADHUB – the solution hub for online traders to provide them know-how, management guidelines and financial support to propel their growth in a professional manner. KBank aims to attract...

Governments Fiscal Balance Report: The First 11 Months of Fiscal Year 2019 (October 2018 August 2019)

Mr. Lavaron Sangsnit, Director–General of the Fiscal Policy Office and Ministry of Finance's Spokesperson stated that in the first 11 months of fiscal year 2019 (October 2018 – August 2019), the government has received 2,309,857 million baht...

Governments Net Revenue Collection: The First 11 Months of Fiscal Year 2019 (October 2018 - August 2019)

Mr. Lavaron Sangsnit, Director-General of the Fiscal Policy Office and Spokesperson of the Ministry of Finance, stated that the government's net revenue collection in the first 11 months of fiscal year 2019 (October 2018 – August 2019), was...

USChina Trade Jitters Drive Spike in Thailand#s Residence Program Applications

Latest data suggests that Thailand is set to become an unintended beneficiary of the current turbulent trade relations between the world's two most powerful economies. As United States President Donald Trump and his Chinese counterpart Xi Jinping...

KBank debuts KBank Digital Academy Tech learning space for enhanced digital experiences

In the fast-paced digital era, KASIKORNBANK (KBank) aims to be the number-one digital banking provider in a bid to meet customers' needs and bring them greater value. To this end, employees hold the key in creating innovations. Recently, KBank...

Related Topics