have gone dark in a country that rivals the U.S. in global box office revenue; and studios may need to postpone major movie releases, noted Moody’s analyst and senior VP Neil Begley. MGM’s upcoming James Bond film,When the SARS epidemic hit that country in 2004, U.S. studios had few film distribution deals there.
Several Apple suppliers in Wuhan had to close and related businesses around the country have been working shorter hours. He said Apple had to close one of its retail stores and is cleaning the others locations frequently and physically taking the temperatures of employees regularly.It’s unclear how fast the contagion can be contained and since people can spread the virus weeks before having symptoms, steps to reduce exposure are becoming more severe.
“We believe more diversified companies and those with strong credit profiles will likely be able to withstand the temporary impact. Less diversified and more leveraged companies with material exposure may be stretched beyond their capacity to absorb shortfalls and narrowing liquidity as time goes on,” the Moody’s report said.
Moody’s and other credit ratings agencies are meant to help investors determine the risk of putting money in specific companies by assessing creditworthiness, or ability to pay it back. The lower the rating, the more attractive terms companies need to offer to raise cash.
Only in America do we care about the rich losing money vs the impact this will have on those who lack health insurance. Aka poor/middle class.