Glonghui, March 28 | S&P downgraded Paramount Global's debt rating from BBB- to BB+, but Wells Fargo said the move may actually make it easier to buy the company because it can relieve the obligation to repay the debt. Wells Fargo analyst Steven Cahall said that we are not experts on debt terms, but we believe that most of Paramount Global's debt instruments have this statement, that is, if a rating agency shifts (high yield), then it denies the change in control clauses. This means that if someone bids to buy Paramount Global, they won't need to repay and reissue debt, which greatly reduces risk. Earlier, there was news that Apollo proposed to buy Paramount's studio for $11 billion. Cahall said that if Paramount accepts Apollo's proposal, the remaining cable assets and streaming media Paramount+ will be less than 2 times, EBITDA will be close to $2 billion, and the sale of the studio may attract higher bids because BET and Nickelodeon are other assets that can be released.