Fitch revises WildBrain view to negative

Fitch Ratings said it changed WildBrain, Ltd.'s outlook to negative from stable and affirmed its long-term issuer default rating at B+ and senior secured issue ratings at BB+/RR1.

“The outlook revision to negative reflects Fitch-calculated leverage (8.7x at Sept. 30, 2022) continuing to significantly exceed Fitch's negative rating threshold of 6x, driven by macroeconomic headwinds and operational changes. In addition, although Fitch expects leverage to decline, it does not expect leverage to get below 6x until FYE June 30, 2024, one year longer than Fitch's prior expectations,” the agency said in a press release.

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