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.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Cinemark Holdings Inc.