S&P: IMAX unchanged

Standard & Poor's said that the announcement by IMAX Corp. (B-/negative) that it has delayed filing its SEC Form 10-K beyond the filing deadline of March 16 does not affect the ratings on the company at this time.

S&P noted that the company intends to file its 10-K on or before March 30 and to restate its financial statements for certain periods over the past six years.

IMAX currently expects that the restatement will have a six-year net negative impact of roughly $2.5 million, the agency said, adding that the magnitude of the restatement and delay does not currently affect IMAX's rating, though S&P said it could become concerned if there are further delays.

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