S&P upgrades Disney

S&P said it raised its ratings on the Walt Disney Co., including its issuer rating to A- from BBB+.

“Disney is on a path to lowering S&P Global Ratings-adjusted leverage to 3x by the end of fiscal 2023. Disney ended its most recent quarter, second-quarter fiscal 2023, which ended April 1, 2023, with S&P Global Ratings-adjusted leverage of 3.3x. We forecast that leverage will decline to 3x by the end of fiscal 2023 and could decline below 2.5x in fiscal 2024,” the agency said in a press release.

S&P said it expects losses in the direct-to-consumer segment to lessen over the next few years and its theme parks and cruise businesses to improve.

The outlook is positive.

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