S&P lowers Vue to CCC+

S&P said it lowered its long-term issuer credit rating on Vue International Bidco plc and the issue ratings on its debt to CCC+ from B-.

The outlook is negative.

“The negative outlook indicates that the difficult operating conditions for cinema exhibitors over the next few months could cause Vue's cash flow, liquidity position, and credit metrics to deteriorate further,” S&P said in a news release.

“We forecast a slow recovery in global cinema attendance during 2020-2021, causing Vue's credit metrics and free cash flow to remain weak.”

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