Disney Rating Cut by Moody’s to ‘Baa1’

Moody’s Investors Service cut Walt Disney Co.’s long-term debt rating, saying the media firm faces declines in attendance at its theme parks and viewership and advertising on its ABC TV network.

Moody’s cut Disney’s senior unsecured debt rating one notch to “Baa1,” its third-lowest investment grade, from “A3.” The downgrade follows similar cuts by Standard & Poor’s Ratings Services and Fitch Ratings.

Disney shares were unchanged at $16.75 on the NYSE.