- Published: May 2012
- Region: United States
Recovery Report: Cinemark Inc.'s Recovery Rating Profile Jun 11
- Published: June 2011
- Standard & Poors
Standard & Poor's Ratings Services is updating our recovery analysis on Plano, Texas-based motion picture exhibitor Cinemark Inc. to reflect the company's proposed $200 million issuance of subordinated notes due 2021. The net proceeds of the subordinated note issuance will be used to refinance about $157 million of nonextended term loan due 2013 and for general corporate purposes. Our recovery analysis assumes that secured lender recoveries do not benefit from a first-priority claim on Cinemark's entire net emergence value due to pari passu claims of unsecured senior noteholders and other creditors on the value of unpledged foreign subsidiary stock. On March 31, 2011, pro forma for the $200 subordinated note issuance, the company's debt structure consisted of $1.05 billion of...
Companies mentioned in this report are: Cinemark USA Inc.,Cinemark Inc.,Cinemark Holdings Inc.
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Cinemark USA Inc.,Cinemark Inc.,Cinemark Holdings Inc.