Fitch Confirms Globo’s Rating at 'BB+' with Stable Outlook

Summary

Fitch Ratings reaffirmed Globo Comunicação e Participações S.A. (Globo) Long-Term Foreign Currency Issuer Default Rating (IDR) at 'BB+' on November 25, 2025. The outlook remains stable.

Key Information

Fitch’s announcement took place in Rio de Janeiro, confirming both the Long‑Term and Local Currency IDRs at 'BB+'. The affirmation reflects Globo’s consistent business performance, strong position in Brazil’s media sector, and its solid liquidity profile.

According to the agency, Globo’s ratings are supported by:

A diversified revenue base across broadcasting, streaming, and content production.
Healthy operating margins despite market competition.
Conservative financial management and low leverage for its operating scale.

Fitch expects Globo’s cash flow generation to remain robust, underpinned by growing digital operations and stable advertising demand.

Outlook

The stable outlook reflects a balanced view of opportunities and risks in Globo’s operational environment. Fitch noted that improvements in Brazil’s macroeconomic indicators could support future rating upgrades, while significant deterioration in cash flow or debt metrics might lead to a downgrade.

“Globo’s well-established brand, broad audience reach, and disciplined financial strategy continue to anchor its credit profile,” Fitch stated.

Company Overview

Globo remains one of Brazil’s largest media groups, engaged in television broadcasting, content production, and digital distribution. The company has been steadily expanding its digital platforms to adapt to the industry’s transformation.

Author Summary

Fitch reaffirmed Globo’s credit rating at 'BB+', citing strong liquidity, stable performance, and resilient digital growth amid evolving market conditions.

TradingView — 2025-11-25