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Moody's changes Formula 1's outlook to negative
Credit rating agency Moody’s changed Formula One’s outlook to negative from positive on Thursday to reflect the impact of the coronavirus crisis on a global sport that has yet to race in 2020. Moody’s did not rule out a full wipe-out of the season and said Formula One had the resources to withstand that eventuality. “F1 has strong liquidity and a sufficiently flexible cost base to manage through a severely curtailed 2020 season, which Moody’s consider would likely be able to support a full cancellation,” it said in a statement. The Liberty Media-owned motor racing series cancelled its March 15 Australian opener, with May’s showcase Monaco Grand Prix also axed and has...
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4y ago from GrandPrix247.com
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