S&P alters Cinemark view to stable

S&P said it change the outlook on Cinemark Holdings Inc. to stable from negative and affirmed the B issuer credit rating.

“Increasing vaccination rates, reduced capacity restrictions, and a robust film slate is expected to significantly improve theater attendance in the second half of 2021. While we believe attendance is unlikely to fully recover to pre-pandemic levels on a per-film basis until at least 2022, and not on an annual basis until 2023, we believe Cinemark has sufficient liquidity to fund its operations as theater attendance recovers from the pandemic,” S&P said in a press release.

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