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Moody's downgrade F1 outlook to ‘negative'

Credit rating agency, Moody’s, has announced it has changed Formula 1's outlook from ‘positive' to ‘negative' due to the ongoing lockdown. Formula 1's last race was in December 2019 at the Yas Marina in Abu Dhabi and the current global crisis has ensured that the first eight races on what was supposed to be a record-breaking 22-race calendar have been postponed or cancelled. With the prospect of no racing until June at the earliest, Formula 1's financial outlook has been changed to reflect the uncertain times we live in. The statement from Moody's did not rule out a complete cancellation of the 2020 season, an event that Formula 1 would be able to survive. The rating agency...
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3y ago from PlanetF1.com 0
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