Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance - S&P Global Ratings’ Credit Research

Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance

Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance - S&P Global Ratings’ Credit Research
Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance
Published Aug 10, 2005
849 words — Published Aug 10, 2005
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Abstract:

NEW YORK (Standard&Poor's) Aug. 10, 2005--Standard&Poor's Ratings Services said today it lowered its corporate credit and bank loan ratings on Blockbuster Inc. to 'B' from 'BB-' and the subordinated note rating to 'CCC+' from 'B'. Ratings on the Dallas-based company remain on CreditWatch with negative implications, where they were placed on Aug. 3, 2005. "The downgrade is a result of Standard&Poor's preliminary rating review following the release of Blockbuster's second-quarter results yesterday and reflects the continuation of extremely weak operating performance due to poor industry fundamentals, the company's decision not to charge late fees, and the high cost related to the rollout of its in-store and online subscription programs," said Standard&Poor's credit

  
Brief Excerpt:

RESEARCH Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From '##-' Due To Weak Performance Publication date: 10-Aug-2005 NEW YORK (Standard & Poor's) Aug. 10, 2005--Standard & Poor's Ratings Services said today it lowered its...

  
Report Type:

Ratings Action

Ticker
BBI
Issuer
Blockbuster Inc.
GICS
Specialty Stores (25504040)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance" Aug 10, 2005. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-Corporate-Credit-Rating-Lowered-To-B-From-BB-Due-To-Weak-Performance-456607>
  
APA:
S&P Global Ratings’ Credit Research. (). Blockbuster Inc. Corporate Credit Rating Lowered To 'B' From 'BB-' Due To Weak Performance Aug 10, 2005. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-Corporate-Credit-Rating-Lowered-To-B-From-BB-Due-To-Weak-Performance-456607>
  
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