S&P lowers Vue

S&P said it lowered the long-term credit rating on Vue International Bidco plc to B- from B.

The outlook is negative.

Refinancing risk is increasing for Vue International as the maturity of its senior secured notes due in July 2020 is approaching, S&P explained.

The agency said it continues to expect Vue will launch a refinancing transaction before July 2019.

Vue launched a full refinancing transaction in November 2018 and then withdrew it because of unfavorable market conditions, the agency said.

S&P said it continues to expect that it will launch another transaction and will push out the 2020 debt maturities before July 2019.

But market conditions remain volatile, so the timing and cost of the refinancing are uncertain, S&P said.

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