S&P revises Formula One view to negative

S&P said it affirmed its ratings on Alpha Topco (Formula One) at B+, including on the group's term loan B and revolving credit facility, and revised the outlook to negative from stable.

S&P said the rating reflects that S&P could lower the rating if F1’s credit metrics weaken below S&P’s forecast base case. This could happen, for example, if the 2020 race calendar was shorter than anticipated, or additional waves of Covid-19 further disrupted events well into 2021, the agency said.

F1 has resumed racing but downside risks related to Covid-19 remain.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.