Moody’s changes Thunder Finco view

Moody's Investors Service said it affirmed Thunder Finco Pty. Ltd.'s B2 corporate family rating.

In addition, Moody's affirmed the company’s B2 senior secured first-lien term loan facility, and a B3 senior secured rating on the second-lien term loan facility.

Moody's also revised the outlook to negative from stable.

“The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets,” the agency said in a news release.

“The combined credit effects of these developments are unprecedented. The live entertainment sector has been one of the sectors most significantly affected by the shock given its exposure to crowd restrictions and sensitivity to consumer demand and sentiment.”

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