Moody’s gives Cineworld DIP B1

Moody's Investors Service said it gave a B1 rating to the $1.785 billion designated debtor-in-possession super-priority senior secured term loan facility due Sept. 7, 2023, provided to Crown Finance US, Inc. (Cineworld Group plc).

The B1 rating primarily mirrors the collateral coverage available to the lenders and the DIP’s structural features, the agency said.

“This DIP loan rating is assigned on a point-in-time basis and will be withdrawn as soon as practicable. Cineworld Group plc and certain of its subsidiaries and affiliates filed for Chapter 11 bankruptcy proceedings on September 7th, 2022,” Moody’s said in a press release.

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