S&P affirms IMAX

Standard & Poor's said it affirmed ratings, including the CCC+ corporate credit rating, on IMAX Corp. and removed them from CreditWatch.

The ratings were originally placed on CreditWatch with negative implications on April 2, with a revision to developing implications on July 5. The rating action follows the company's filing its 10-Q for the first quarter and its 10-K for 2006 with the Securities and Exchange Commission, which should put the company in compliance with its filing requirement under its bond indenture and alleviate the risk of a near-term acceleration, the agency said.

"The positive outlook reflects solid system signings in the first quarter and good box office performance of IMAX films this year, which could lead to new system signings," S&P credit analyst Tulip Lim said in a written statement.

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