Paramount’s Times Square office.

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The credit agencies are weighing in on Paramount Global, fresh off the deal that would hand control over the entertainment giant to David Ellison’s Skydance.

Moody’s warned in a note that it is placing Paramount’s ratings on review for a downgrade, a move that would rate the company’s debt at “junk” status.

“The review for downgrade is prompted by the ongoing secular pressures on…