Moody’s Investors Service (Moody’s) has today downgraded to Ba3 from Ba2 the corporate family rating (CFR) of Pinewood Group Limited (Pinewood) following its refinancing announcement. …The significant de-risking of the business, following the recent signing of long-term contracts with Disney and Netflix that will cover 100% of existing stage and other production accommodation space, removing the need to regularly roll over the typically 8-12-month rental agreements. The company has transformed its business risk profile following the announcement of new long-term contracts with Disney and Netflix.
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