Paramount's Downgrade: A Cautionary Tale of Debt and Doubt S&P Global's decision to downgrade Paramount's credit rating further is not surprising, given the company's already precarious financial situation.
This move serves as a stark reminder of the risks involved in megamergers like the one with Warner Bros. Discovery. Paramount will assume $30 billion in net debt from Warner Bros.
Discovery, on top of tens of billions it is amassing to fund the merger itself.