S&P puts AMC on watch

S&P said it placed its ratings for AMC Entertainment Inc., including its B rating, on CreditWatch with negative implications.

The placement reflects S&P’s expectation the measures enacted to limit the spread of the coronavirus will hurt theater attendance over the next few months leading to lower EBITDA and cash flow for the company.

“We intend to resolve the CreditWatch as we get additional information on near-term box office attendance trends and potential updates to the film release slate arising from the impact of the spread of coronavirus. We also plan to continue discussions with management to determine the severity of the impact and what levers it plans to use to offset the negative impact of the virus on the company's performance,” said S&P in a press release.

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