Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Regal Cinemas Corp. > News item |
S&P rates Regal Cinemas notes B-
Standard & Poor's said it assigned a rating of B- to the $300 million senior unsecured notes due 2019 of Regal Cinemas Corp., the operating subsidiary of Regal Entertainment Group, with 6 recovery rating.
The B+ corporate credit rating was affirmed.
Proceeds will be used to repay a portion of the company's bank debt. Once the bank debt is reduced, the agency said it could revised the recovery rating on the company's secured debt to 2 and raise the issue rating to BB-.
S&P said the B+ rating reflects the company's aggressive financial policies and high leverage.
The rating also considers Regal's participation in the mature and highly competitive U.S. movie exhibition industry, exposure to the fluctuating popularity of Hollywood films and the risk of increased competition from the proliferation of entertainment alternatives, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.