Analysts at S&P warned that “persistent high cash burn could lead to insufficient liquidity after 12 months, absent any cash injection”, calling the company’s current capital structure “unsustainable in the long term given the high level of debt compared with the size of the group and high cash burn.” It sent Merlin’s bonds into a spiral.Last month, S&P Global Ratings downgraded one of its parent entities, Motion Midco Ltd, to CCC+ from B-, while also downgrading the issue ratings on its senior secured debt ...

This is the largest Legoland in the world. The theme park opened its doors in Shanghai, aiming to replicate the success of the city's Disneyland. And apart from the usual rides, there are featured attractions aimed at a Chinese audience, including an area based on Chinese mythological hero, The Monkey King, and a boat tour of iconic Chinese landmarks built out of Lego bricks.But theme parks in China is already a crowded market and no longer the novelty they once were. The competition for visitors is expecte ...