latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/moody-s-lowers-amc-entertainment-ratings-amid-ongoing-challenges-58085609 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Moody's lowers AMC Entertainment ratings amid ongoing challenges

US Operators Bolster Downward Trajectory for US Cable Capex Forecast

Ad agencies struggle to survive second quarter of 2020

Video Supply-Side Platforms Hurt By Q2'20 Fall In Video Ads, Rebounding In 2021

AVIA: Building The Case For Satellite 5G

Moody's lowers AMC Entertainment ratings amid ongoing challenges

Moody's lowered AMC Entertainment Holdings Inc.'s corporate family rating to Caa1 from B3 and the probability of default rating to Caa1-PD from B3-PD.

Concurrently, the rating agency downgraded AMC Entertainment's senior secured credit facilities to B3 from Ba3 and $2.3 billion of senior subordinated notes to Caa2 from Caa1.

The senior secured debt was lowered on the expected recovery value of the debt instruments because of various uncertainties and challenges AMC is facing over the short term and the economic impact from COVID-19 on AMC's cash flows and liquidity.

Moody's also assigned a B3 rating to the proposed $500 million first-lien notes offering.

The outlook on AMC Entertainment is negative, reflecting Moody's expectation for lower revenue and EBITDA this year along with weakened liquidity as a result of temporary closures of the company's theater circuit.

The company earlier said it has a sufficient cash balance to withstand a suspension of operations until a partial reopening in July. As of March 31, AMC had a cash balance of $299.8 million, including borrowings in March.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis anytime here.