National Amusements Inc. 'B+' Rating Affirmed Following Argentina's Revised Country Risk Assessment; Outlook Stable

We reviewed our corporate credit rating on U.S.-based movie exhibitor National Amusements Inc. (NAI) incorporating a revised and improved country risk assessment on Argentina. We are affirming our 'B+' corporate credit ratings on NAI and its operating subsidiary NAI Entertainment Holdings LLC. We are also revising our assessment of NAI's consolidated country risk assessment to low from intermediate. The stable rating outlook reflects our expectation that, despite its exposure to volatile box-office performance, NAI will be able to maintain compliance with its covenants and strong liquidity because of its equity holdings in Viacom Inc. and CBS Corp. We also expect that the company won't have any difficulty refinancing its 2018 debt maturities. CHICAGO (S&P Global Ratings) Feb. 22, 2018--S&P Global

...+ We reviewed our corporate credit rating on U.S.-based movie exhibitor National Amusements Inc. (NAI) incorporating a revised and improved country risk assessment on Argentina. + We are affirming our 'B+' corporate credit ratings on NAI and its operating subsidiary NAI Entertainment Holdings LLC. + We are also revising our assessment of NAI's consolidated country risk assessment to low from intermediate. + The stable rating outlook reflects our expectation that, despite its exposure to volatile box-office performance, NAI will be able to maintain compliance with its covenants and strong liquidity because of its equity holdings in Viacom Inc. and CBS Corp. We also expect that the company won't have any difficulty refinancing its 2018 debt maturities. CHICAGO (S&P Global Ratings) Feb. 22, 2018--S&P Global Ratings today affirmed its 'B+' corporate credit ratings on Norwood, Mass.-based National Amusements Inc. (NAI) and its operating subsidiary NAI Entertainment Holdings LLC, which we analyze...

Ratings Action