1. Disney Raises Another $11 Billion in Debt

    Disney Raises Another $11 Billion in Debt

    Disney has raised another $11 billion in debt to help the company power through the revenue crisis spurred by the global coronavirus pandemic. On the same day that Shanghai Disneyland reopened at a fraction of its typical capacity after a nearly four-month closure, Disney tapped the debt markets for a series of notes that come due between 2026 and 2060...

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    1. Disney has the ability to mitigate the impact to cash flow and liquidity through a variety of levers. Fitch expects that the company will reduce discretionary capital expenditures and anticipates total capex of approximately $4.4 billion during fiscal 2020.
    2. This is a first step, it's a baby step, but we're very encouraged by what we're seeing in Shanghai.
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