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Moody's may downgrade Cinemark USA loans
Moody's Investors Service said it placed Cinemark USA, Inc.'s Ba2 senior secured bank credit facility on review for possible downgrade following the announced tender offer for the company's 9% senior subordinated notes. The B1 corporate family rating and positive outlook remain unchanged.
The agency said it will downgrade the credit facility by one notch if all of the 9% notes are repaid, due to the elimination of the junior capital currently provided by the notes in the company's capital structure.
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