Moody's affirms Regal

Moody's Investors Service said it affirmed the Ba3 corporate family and Ba3 probability of default ratings for Regal Entertainment Group.

The outlook remains stable.

Other affected ratings include Regal Entertainment's affirmed B2 rating on senior unsecured convertibles, LGD 6, 95% and Regal Cinemas Corp.'s affirmed Ba2 rating on senior secured bank credit facility, LGD3, 38%.

According to Moody's, Regal's Ba3 corporate family rating reflects high leverage of 5.2 times debt-to-EBITDA and expectations that dividends will continue to consume much of Regal's free cash flow.

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