Fitch affirms Regal

Fitch Ratings said it affirmed Regal Entertainment Group's issuer default rating at B+ and senior unsecured notes at B- with a recovery rating of RR6. Regal Cinemas' issuer default rating was affirmed at B+, senior secured credit facility at BB+ with a recovery rating of RR1 and senior unsecured notes at B+ with a recovery rating of RR4. Regal Cinemas is an indirectly wholly owned subsidiary of Regal Entertainment.

The outlook is stable.

The ratings reflect the company's size and position as the largest domestic movie exhibitor, Fitch said.

The agency said it expects the company to continue to improve its relatively modern theater circuit in a disciplined manner. The ratings also reflect solid geographic diversity and relatively stable operating performance, Fitch said.

Concession revenues have remained relatively stable despite the weak economic conditions, the agency said.

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