S&P Global Ratings on Monday reduced its credit rating for Endeavor Operating Co. over concerns for its high-borrowing strategy and exposure to the bottom dropping out of its live events market as a result of a global pandemic. "Federal guidelines in the U.S.
for social distancing will remain in place at least until April 30, extending the possibility for a prolonged downturn for event- and entertainment-based businesses," the ratings agency warned in an investors note.