Photo: Dave Mandel/Sherdog.com
Endeavor, the parent company of the Ultimate Fighting Championship, continues to feel the negative effects of the ongoing COVID-19 pandemic.
According to The Hollywood Reporter, S&P Global Ratings reduced its overall credit rating for Endeavor Operating Co. on Monday from a B to CCC+ due to concerns for a “high-borrowing strategy” and the lack of a live events market during the outbreak.
"Federal guidelines in the U.S. for social distancing will remain in place at least until April 30, extending the possibility for a prolonged downturn for event- and entertainment-based businesses," S&P Global wrote in an investor’s note.