Fitch affirms Disney

Fitch Ratings said it affirmed The Walt Disney Co.'s issuer default rating and senior unsecured debt ratings at BBB+ and commercial paper program rating at F2.

The outlook remains stable.

The agency said the affirmation considers the financial implications, strategic benefits and integration challenges of the announced transaction to acquire Pixar.

Fitch said it believes there is the potential for additional share repurchases during the next two years and credit metrics are expected to deteriorate slightly over the next 24 months.

Disney's ratings continue to reflect the company's leading market positions in core businesses, unique brand franchises and solid financial flexibility, the agency noted.

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