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Fitch puts AMC on Rating Watch Negative after Odeon deal

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Fitch puts AMC on Rating Watch Negative after Odeon deal

Fitch Ratings placed AMCEntertainment Holdings Inc.'s B+ long-term issuer default rating andrelated debt issue ratings on Rating Watch Negative.

The agency took the action after AMC agreed to acquireLondon-based Odeon & UCI Cinemas Group from investment firm Terra Firma CapitalPartners Ltd. for about £921 million.

The ratings action "reflects uncertainty surrounding theultimate resolution of the pending Carmike acquisition and its potential impacton AMC's capital structure and the execution risks surrounding entering the Europeanmarkets," Fitch said July 14.

AMC is also in the process of acquiring CarmikeCinemas Inc.