Corporate$PSKY $WBD6:00 PM ETdeveloping · v2

Fitch downgrades Paramount Skydance and Warner Bros. to 'BB' after acquisition close

By BORSA NewsroomPublished Oct 5, 2026, 6:00 PM EDTUpdated Oct 6, 2026, 4:28 AM EDT

Fitch Ratings downgraded Paramount Skydance Corporation (PSKY) and Warner Bros. Discovery (WBD) to 'BB' from 'BB+' following the close of the WBD acquisition. The downgrade reflects materially higher leverage (7.8x in FY2026) and significant execution and integration risks. Outlook is Stable.

Sentimentneutral 50

Neutral · 50 of 100

Impact70

medium · sector-wide

Confidence95%

high confidence · 2 wires

Eventdeveloping

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