Sphere Entertainment Co. (SPHR) has disclosed a new risk, in the Debt & Financing category.
Sphere Entertainment Co. faces a significant financial challenge as the maturity of MSG Networks Credit Facilities looms in October 2024, with a substantial $891.0 million debt principal. Despite management’s intentions to refinance these obligations, the company confronts uncertainty; failure to secure favorable refinancing terms or alternative funding could precipitate lender foreclosure on MSG Networks. This scenario heightens the risk profile of Sphere Entertainment Co., as the inability to refinance could compel MSG Networks to consider bankruptcy protection, thereby jeopardizing Sphere Entertainment Co.’s stake in MSG Networks’ value and operations.
Overall, Wall Street has a Moderate Buy consensus rating on SPHR stock based on 2 Buys and 4 Holds.
To learn more about Sphere Entertainment Co.’s risk factors, click here.
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