There appears to be no end in sight for Endeavor’s financial woes.
Just days after the Hollywood conglomerate announced lay offs, furloughs, and pay cuts for approximately 2500 employees — roughly one third of the company — it has now been hit with a credit rating drop from financial services company Moody’s.
Moody’s, which joined S&P Global Ratings in downgrading Endeavor sizeable debt from stable to negative, claimed that the company “has maintained very high leverage levels and issued additional debt to help fund acquisitions historically.”
“WME IMG is expected to have adequate liquidity due to cash on the balance sheet ($145 million pro forma for the…
‘Highly leveraged’ Endeavor continues to feel financial pressure