派拉蒙天舞（股票代码：PSKY）今日盘中股价大幅下挫7.5%，市场关注度急剧升温。
消息面上，国际评级机构惠誉（Fitch Ratings）将派拉蒙及其子公司的长期发行人违约评级从投资级边缘的“BBB-”下调至“BB+”的垃圾级（或称投机级），并将其置于负面观察状态。此次评级行动主要归因于该公司拟议的巨额收购案。
惠誉在报告中指出，尽管派拉蒙以约1100亿美元收购华纳兄弟探索公司可能带来规模效应，但该交易将导致合并后实体的杠杆率瞬间激增，背负高达790亿美元的净债务。在当前竞争激烈且处于结构性变革的媒体行业中，如此脆弱的财务结构显著削弱了新公司的风险抵御能力。市场担忧，评级滑落至垃圾级将直接推高其未来的融资成本，并对公司的债务管理能力构成严峻考验。
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