Getty Images Cut to Caa1 After $88M Ruling, Draws on $150M Credit Facility
Moody’s cut Getty Images’ credit rating two notches to Caa1, citing weakening liquidity and an $88M legal payment obligation it plans to fund via its $150M revolving credit facility. Q1 2026 results are scheduled for May 11 after market close, followed by a 4:30 p.m. ET call.
1. Credit Rating Downgrade and Debt Profile
Moody’s lowered Getty Images’ issuer rating two notches to Caa1 with a negative outlook, citing weakening liquidity and strategic uncertainty tied to the unresolved Shutterstock merger. The company ended 2025 with about $2 billion of debt, including $295 million of unsecured notes due in March 2028 and a revolving credit facility subject to refinancing conditions.
2. Legal Ruling and Funding Plan
A US appeals court upheld an $88 million plus interest payment to investors Alta Partners and CRCM Institutional Master Fund. Getty Images intends to draw on its $150 million revolving credit facility to cover the obligation, which Moody’s estimates could total around $110 million including accrued interest.
3. Q1 2026 Results and Conference Call
Getty Images will release first quarter 2026 financial results on May 11 after market close, followed by a 4:30 p.m. Eastern Time conference call. Live access will be available by phone and webcast, with audio replays accessible for two weeks after the call.