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Moody's puts AMC on review for downgrade following Nordic deal

Moody's put AMC Entertainment Holdings Inc. unit AMC Entertainment Inc.'s corporate family ratings under review for downgrade following the announcement that AMC agreed to buy Stockholm-based Nordic Cinema Group Holding AB.

The ratings placed under review for downgrade includes the B1-PD probability of default rating. Also, the Ba1 senior secured rating and B2 senior subordinate rating at AMC Entertainment Holdings were placed on review for downgrade, the rating agency said Jan. 24.

The review for downgrade will focus on the permanent financing for the transaction, the historical financial results of the target company translated into U.S. dollars and U.S. GAAP, as well as management's financial policies and capital allocation decisions including its debt financed M&A growth strategy for the consolidated company going forward.