Lions Gate Entertainment lowered on High Leverage

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On November 24, 2020, Moody's Investors Service downgraded its corporate family rating on Lions Gate Entertainment Corp. to B1 from Ba3, its probability of default rating to B1-PD from Ba3-PD and its senior unsecured notes rating to B3 from B2. The Company’s rating reflects high Moody's adjusted leverage of 6.3x (5.4x cash leverage) with an expectation that leverage will increase further over the next year due to lingering economic disruptions in the motion picture industry caused by the Covid-19 pandemic as well as the Company's planned increase in content spending to support the expansion of its Starz platform internationally.

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