S&P: Hollywood Theaters on developing watch

Standard & Poor's said it placed its corporate credit and issue-level ratings for Hollywood Theaters Inc. on Creditwatch with developing implications, indicating that the ratings could be either raised or lowered over the near term.

At the same time, the agency said it assigned Hollywood Theaters' parent company, Wallace Theater Holdings Inc., a corporate credit rating of CCC and placed it on Creditwatch with developing implications, in conjunction with its watch listing for the operating company rating.

S&P said it analyzes Wallace and Hollywood on a consolidated basis.

In addition, the agency said it assigned Wallace's proposed issuance of $150 million senior secured notes due 2013 its issue-level rating of B- and it also assigned the proposed notes a recovery rating of 3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.