S&P rates MGM B-, loans B+

Standard & Poor's said it assigned a B- preliminary corporate credit rating to Metro-Goldwyn-Mayer Inc., along with a B+ preliminary issue-level and 1 preliminary recovery rating to its proposed exit facilities.

The outlook is stable.

The company has received confirmation of its bankruptcy reorganization plan, the agency said.

The stable outlook reflects a view that MGM's sharply diminished debt burden post-bankruptcy and easing of liquidity pressure will provide sufficient near-term flexibility for the company's restart of production, S&P said.

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