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S&P cuts AMC debt rating on 'increased leverage'

S&P Global Ratings on Aug. 7 lowered AMC Entertainment Holdings Inc.'s issuer credit rating to B from B+.

The outlook of the Kansas-based motion picture exhibitor is stable.

The rating agency downgraded the issue-level rating on AMC's senior secured debt to BB- from BB, and to B from B+ on the subordinated debt. The downgrade reflects S&P's expectation that discretionary cash flow could turn negative for full year 2018 and leverage will remain elevated around 6x over the next two to three years.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.