Fitch cuts Paramount Skydance rating to BB before Warner Bros. close

Fitch Ratings cut Paramount Skydance's long-term issuer default rating, its view of repayment ability, from BB+ to BB, Variety reported on Oct 6. Fitch published the note on Oct 5, a day before the Paramount-Warner Bros. deal closed. Fitch cited higher leverage and integration risks. Fitch lists both grades below investment grade.