S&P Global Will Lower Paramount's Credit Rating Even More After Warner Bros. Merger

After previously downgrading Paramount's credit rating to junk status, S&P Global says it will take it down another notch following the closing of its pending $110 billion merger with Warner Bros. Discovery. "We will lower the issuer credit rating on PSKY to 'BB' when its acquisition of WBD closes, assuming no material changes to the structure or terms of the transaction due to regulatory considerations, our view of the media ecosystem, or the company's competitive position due to geopolitical factors or secular pressures," the firm said in a statement. "We base our decision to . . .