Wall Street seems to have accepted that Blockbuster’s role in the merger of Viacom-Paramount is headed for the dustbin.
On Friday, yet another Wall Street force indicated it believes the Viacom-Blockbuster deal is dead.
Standard & Poor’s Corp., a leading credit-ratings outfit, announced Friday that it is considering downgrading the ratings of Paramount Communications Inc., Viacom Inc. and Blockbuster Inc..
The company attributed its reassessment of the three to the diminished possibilities of the Viacom-Blockbuster merger being completed given the decline in Viacom’s stock.
S&P said that without Blockbuster, Viacom-Paramount’s implied senior debt rating would be lower than previously indicated.