Fitch alters WildBrain view to stable

Fitch Ratings said it revised WildBrain Ltd.'s outlook to stable from negative and affirmed the long-term issuer default rating at B+ and the BB+/RR1 senior secured issue ratings.

“The rating action reflects WildBrain's delevering efforts, bringing Fitch-calculated leverage to 8x at Sept. 30, 2021. Leverage had increased to 9.3x at Dec. 31, 2020, from 6.9x due to Fitch's adjustments to its leverage calculations to account for IFRS 16's lease treatment. Fitch expects leverage to continue declining, reaching 6.8x by FYE June 30, 2022, and 5.9x by FYE ended June 30, 2023, in line with Fitch's prior expectations,” the agency said in a press release.

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