Moody's downgrades Technicolor to Caa1, outlook stable
Rating Action: Moody's downgrades Technicolor to Caa1, outlook stable. Global Credit Research- 28 Feb 2020. NOTE: On March 2, 2020, the press release was corrected as follows: The fourth sentence of the LIQUIDITY paragraph in the RATINGS RATIONALE section was changed to Conditional on the successful execution of the rights issue, the maturity of the 250 million revolving credit facility will be extended to 30 June 2023 and the credit line provided by Wells Fargo to 31 March 2023....Technicolor is engaged in the media and entertainment and consumer services industries. Co. develops technologies that provide the solutions and services offered to its business clients (content creators and distributors, Network Service unique expertise to patent its innovation and monetize its IP portfolio, Providers and Pay-TV operators). Co.'s innovation and Intellectual Property (IP) portfolio comprises video, audio, communication/interoperability, content distribution and local network technologies. Co.'s activities can be divided into three main segments: Technology, Entertainment Services and Connected Home.
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