S&P last December had warned about tough sledding for Paramount in 2024.
Paramount was formed by the merger of CBS and Viacom in 2019.
That move triggered the warning about Paramounts credit.
Paramount Global headquarters in New YorkMichael M. Santiago/Getty Images
Free operating cash flow was negative in 2022 and is expected to be minimal in 2023.
Paramount will report its fourth-quarter and full-year results next Wednesday.
