Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative

Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative
Published May 23, 2024
6 pages (2309 words) — Published May 23, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

National Amusements Inc.'s (NAI) senior secured term loan is due at the beginning of May 2025. We expect NAI will not be able to generate positive free operating cash flow (FOCF) and does not have sufficient liquidity to repay its debt. As a result, we lowered the issuer credit rating on NAI to 'CCC' from 'CCC+'. We also lowered the issue-level rating on the term loan to 'B-' from 'B'. The negative outlook reflects the risk that we could lower NAI's rating if we believed the company could default within the next six months. The negative outlook reflects the risk that we could lower NAI's rating if we believed the company could default within the next six months. We could

  
Brief Excerpt:

...- National Amusements Inc.'s (NAI) senior secured term loan is due at the beginning of May 2025. - We expect NAI will not be able to generate positive free operating cash flow (FOCF) and does not have sufficient liquidity to repay its debt. - As a result, we lowered the issuer credit rating on NAI to '###' from '###+'. - We also lowered the issue-level rating on the term loan to 'B-' from 'B'. - The negative outlook reflects the risk that we could lower NAI's rating if we believed the company could default within the next six months....

  
Report Type:

Research Update

Ticker
2341170Z
Issuer
National Amusements Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative" May 23, 2024. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-National-Amusements-Inc-Rating-Lowered-To-CCC-On-Upcoming-Debt-Maturity-Outlook-Negative-3180226>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: National Amusements Inc. Rating Lowered To 'CCC' On Upcoming Debt Maturity; Outlook Negative May 23, 2024. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-National-Amusements-Inc-Rating-Lowered-To-CCC-On-Upcoming-Debt-Maturity-Outlook-Negative-3180226>
  
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