Bulletin: Cinemark Announcement Does Not Affect Rating Or Outlook Feb 10
- ID: 1822488
- February 2010
- Standard & Poors
CHICAGO (Standard & Poor's) Feb. 11, 2010--Standard & Poor's Ratings Services said today that Cinemark Holdings Inc.'s (B+/Stable/--) announcement that it is pursuing an amendment and extension to its $1.23 billion bank facilities does not affect our rating on the company. The company is seeking to extend the maturity of its $150 million revolving credit facility, from October 2012 to March 2015 and its $1.1 billion term loan B from October 2013 to April 2016. In exchange for agreeing to extend, revolving credit facility lenders would receive a 50-basis-point (bp) increase in pricing (to LIBOR plus 250 bps). Term B lenders would receive a 100 bp increase in pricing (to LIBOR plus 275 bps). Among other things, the amendment would...
Companies mentioned in this report are: Cinemark Holdings Inc.
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