Some Electronic Arts Inc. bondholders are mounting opposition to the video game company's debt buyback plan, even as S&P Global Ratings questions whether the maneuver will deliver promised savings. The buyback is part of a broader effort to take the company private, but creditors are raising concerns about the financial mechanics and potential risks.

The debt buyback has become a flashpoint in the private takeover negotiations, with bondholders arguing the terms could disadvantage them. S&P's skepticism adds another layer of complexity, suggesting the financial engineering behind the deal may not achieve its stated goals. The ratings agency's position could influence other creditors' willingness to support the transaction.

This resistance from bondholders represents a significant hurdle for the private equity buyers seeking to acquire Electronic Arts. The standoff highlights the challenges of structuring leveraged buyouts in today's market, where creditors are increasingly willing to push back against terms they view as unfavorable. The outcome could set precedents for similar transactions in the gaming and broader media sectors.