MGM Credit Ratings Downgraded By Moody’s Due To Film And TV Spending

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As it continues to plot a new course after a management reshuffling, MGM has received some unwelcome news this morning from Moody’s Investors Service. Noting the company’s increased spending on film and TV projects, Moody’s has downgraded two key ratings for the company.
MGM’s “corporate family rating” and default probability rating both took steps down, and Moody’s outlook changed to negative from stable. The corporate family rating is a measure of a company’s ability to…

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