S&P gives AMC notes B-

Standard & Poor's said it assigned an issue-level rating of B-, one notch lower than the B corporate credit rating on the company, to AMC Entertainment Inc.'s new $300 million senior unsecured notes due 2019, along with a recovery rating of 5.

According to the agency, the B corporate credit rating and all other issue-level ratings on the company remain unchanged.

S&P said it believes that AMC intends to use proceeds from the new notes to repay borrowings under the senior unsecured notes due 2012, adding that it expects the new notes to benefit from the same security and guarantee package securing the company's senior unsecured notes and, as a result, to rank pari passu with them.

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