Moody's ups Blockbuster to SGL-1

Moody's Investors Service said it upgraded the speculative grade liquidity rating for Blockbuster Inc. to an SGL-1.

Moody's said the upgrade reflects the improvement in expected liquidity over the next 12 months now that the funding of the special dividend to shareholders is complete.

The liquidity rating reflects Moody's expectation that the company will maintain very good liquidity and that its strong internally generated cash flow and cash on hand will be sufficient to fund its working capital, capital expenditure and dividend requirements for the next four quarters and will also permit the company to pay down debt or accumulate on balance sheet cash.

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