S&P Downgrades MGM on Twice-Delayed James Bond Release
Theatrical and content production delays from COVID-19 prompted S&P Global to downgrade MGM to B from B+, said the ratings service Thursday. MGM’s twice-delayed James Bond feature film No Time to Die, now scheduled for April release, typifies similar delays…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
expected “for some of its theatrical and television content due to the negative impacts from COVID-19,” said S&P. “While we expect that the decision to further delay James Bond may provide MGM with an opportunity for a more favorable theatrical release in early 2021, when social distancing restrictions from the pandemic are presumed to have eased," there's still "substantial risk" of further delays if infection rates remain high. MGM didn’t respond to questions.