S&P Global Ratings

“AMC alone carries more than $400 million in annual interest expense and $850 million in rent, a capital structure S&P Global Ratings has called “unsustainable” even as attendance recovers.”

“S&P Global Ratings has lowered its long-term issuer credit rating (ICR) on Oracle to ‘BBB-’ from ‘BBB’”

“White the rating agency maintained a stable outlook, it identified Sam Altman-led OpenAI as a 'key credit risk' for the company”

“S&P said that it estimates that OpenAI makes up roughly half of the $638 billion in remaining performance obligation (RPO)”

“We project Oracle’s cloud infrastructure business, which accounted for 27% of revenues in fiscal 2026, will make up almost 60% of revenues by fiscal 2028”

“We could lower the rating again if we: Expect Oracle to sustain leverage exceeding 4.5x”