Toronto-based, diversified integrated media and content company Corus Entertainment Inc. ?s liquidity position continues to erode due to a reduction of its revolver availability and weak operating performance. Additionally, the company?s $303.6 million term loan and $65 million revolving credit facility will become current on March 18, 2025, which we believe heightens the risk of a distressed exchange or restructuring over the next six to 12 months. Therefore, we lowered our issuer credit rating on the company to 'CCC-' from 'CCC' and revised our liquidity assessment downward to weak. At the same time, we lowered our issue-level ratings on the company's senior secured term loan to 'CCC+' from 'B-'; the '1? recovery rating is unchanged. We also lowered our issue-level
