S&P Global Ratings said it expects to cut Electronic Arts Inc.’s credit grades to junk status after the video-game maker’s buyout deal is closed, citing the expected addition of about $20 billion of debt from the transaction.
The bond grader on Monday said it’s looking at cutting Electronic Arts’s credit rating, and anticipates a downgrade of “multiple notches.” EA’s issuer credit rating is BBB+ now, the bond grader said in a statement, or three steps above high-yield status.