Fitch affirms AMC Entertainment

Fitch Ratings said it affirmed AMC Entertainment Inc.'s issuer default rating at B, senior secured credit facilities at BB/RR1, senior unsecured notes at B/RR4 and revised its senior subordinated notes to CCC with a recovery rating of RR6 from CCC+ with recovery rating of RR6.

The agency also affirmed Marquee Holdings Inc.'s issuer default rating at B and revised its senior discount notes to CC with recovery rating of RR6 from CCC with recovery rating of RR6.

The agency also affirmed AMC Entertainment Holdings, Inc.'s issuer default rating at B and revised its senior unsecured term loan to CC with recovery rating of RR6 from CCC with recovery rating of RR6.

The outlook is stable.

While its net leverage is high, Fitch said it expects this leverage to be at its peak with the company reducing its leverage over time.

The ratings are supported by the company's competitive positioning as the second-largest domestic movie exhibitor, the agency said.

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