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S&P lowers Inter Media and Communication
S&P said it lowered the long-term issue ratings on Inter Media and Communication SpA (MediaCo)’s bonds to B+ from BB- and placed them on CreditWatch with negative implications.
“The European football ecosystem is facing unprecedented stress amid the Covid-19 pandemic, with all competitions halted and uncertainty regarding when they will restart and the long-term effects on fundamentals,” S&P said in a news release.
“Inter Media and Communication SpA (MediaCo) relies on the strength of F.C. Internazionale's franchise and the prospects of the European and Italian football leagues, which have been negatively affected by Covid-19, in our view.”
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