Research Update: Regal Entertainment Group Proposed $250M Senior Notes Rated 'B-' (Recovery Rating: 6) Jan 13
- Language: English
- Published: January 2013
We are updating our recovery analysis on Knoxville, Tenn.-based motion picture exhibitor Regal Entertainment Group (Regal), as part of our ongoing surveillance. Standard & Poor's Ratings Services' simulated default scenario contemplates a default in 2016, stemming from expansion efforts that fail to generate appropriate returns, or a sudden, sharp shift toward alternative film delivery methods. We believe that Regal would reorganize in the event of a default, in view of its attractive portfolio of multi-screen theaters in large market areas. (For Standard & Poor's recovery rating methodology, see "Criteria Guidelines For Recovery Ratings," published Aug. 10, 2009, on RatingsDirect.) Regal Cinemas Corp.'s debt capitalization includes an $85 million senior secured revolving credit facility, a $1,006 million term loan, and $400...
Companies mentioned in this report are: Regal Cinemas Corp.,Regal Entertainment Group
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Research Type: Full Analysis
Regal Cinemas Corp.,Regal Entertainment Group