S&P rates Regal notes B-

Standard & Poor's said it assigned Regal Entertainment Group's proposed $350 million senior unsecured notes due 2022 its B- issue-level rating (two notches lower than the B+ corporate credit rating on the company).

The agency also assigned this debt a recovery rating of 6, indicating an expectation for negligible (0% to 10%) recovery for noteholders in the event of payment default.

The company plans to use proceeds for debt repayment and general corporate purposes.

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