Moody's rates AMC notes B1

Moody's Investors Service said it rated AMC Entertainment, Inc.'s $600 million senior unsecured notes B1 (LGD3, 37%).

The agency said the debt issue is neutral to Marquee's B2 corporate family and probability-of-default ratings, and both ratings were affirmed.

Proceeds will be used to retire AMC's $250 million 8 5/8% notes due August 2012 and to bolster liquidity by reducing outstanding amounts under its $200 million senior secured revolving term loan due January 2012.

With the cash infusion bolstering liquidity, Marquee's speculative grade liquidity rating was revised to SGL-1 from SGL-2.

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