S&P: Kerasotes unchanged

Standard & Poor's said that ratings on Kerasotes Showplace Theatres Holdings LLC (B-/stable) are unaffected at this time by the company's announcement that it intends to conduct two sale leasebacks, using the proceeds to pay down debt and potentially to acquire several theaters.

The agency said that the company is analyzed on a consolidated basis with operating company Kerasotes Showplace Theatres LLC.

The first-lien loan rating of B-, at the same level as the corporate credit rating on the parent company, and recovery rating of 3 will also remain unchanged, S&P noted.

Kerasotes will sell and lease back several of its theaters and use the proceeds to pay down debt, the agency added.

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