After the failure of talks aimed at tackling the structural fiscal deficit at struggling MGM, credit rating agency Standard & Poor’s has downgraded the corporation’s bonds, James Bonds, to junk status. The credit rating of the Bond franchise has been down rated from 007+ to 911-.
Commentators say the studios, a feared empire in the classical era and once thought too big to fail, sought to overcome their deficit by issuing increasing numbers of Bonds of decreasing quality as demand dwindled. The rating of the James Bond is in stark contrast to the German Bund, Jakob Bund, and it now languishes at a similar level to the Irma Bunt, once thought to be the villain of the piece.
MGM is understood to have refused to accept the imposition of austerity measures which would have given it a fighting chance, saying its stars’ contract riders were sacrosanct.
[No more soon; apologies to Mr CA below who preferred it as a one liner]