Warner Bros. Discovery (NASDAQ:WBD) is expected to restrict creditors from forming certain cooperation groups as the company completes a debt deal tied to its two-way split, according to a Wall Street Journal report from Thursday.

Warner Bros. Discovery Inc. was downgraded to junk by Moody’s Ratings, cementing the media giant as a fallen angel just years after it sold one of the biggest high-grade bond deals on record.

The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.