By Jill Goldsmith S&P Global and Moody’s Investors Services downgraded CAA Holdings Monday after the company raised $75 million in a debt sale as the agencies said canceled and postponed live events and shrinking agent commissions could impact revenue.
The outlook is stable, however, meaning, in the case of S&P, that “CAA will maintain sufficient liquidity to service all of its debt obligations and that productions and live events, including sports and music, will gradually return to pre-pandemic levels toward the end of fiscal year 2020 into 2021.” CAA insiders said the loan from investors was not necessary but the terms and timing were opportune and that the firm considered a cash cushion prudent given the current situation.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.