Moody's rates Kasima loan Baa2

Moody's Investors Service said it assigned a provisional Baa2 (sf) rating to the new senior secured term loan to be extended to Kasima, LLC.

The loan is backed, primarily, by the virtual print fees payable by motion picture distributors each instance a movie is booked in a digital format at theater locations equipped with Kasima digital projection systems.

The senior secured term loan will be paid pari passu with a new senior secured revolving credit facility consisting of $75 million senior revolver.

Proceeds under the senior secured term loan will be used to refinance in full the existing senior delayed draw term loan, the existing term loan B and the existing revolver, Moody's said.

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