Moody's rates Odeon loan Ba2

Moody's Investors Service said it assigned definitive B3 rating to the multicurrency notes issued by Odeon & UCI Finco plc and a definitive Ba2 rating to the £90 million super senior revolving credit facility available to Odeon & UCI Bond Midco Ltd., the holding company of the Odeon & UCI cinema group.

The corporate family rating assigned to Odeon remains unchanged at B2. The outlook is negative.

The definitive rating assignments on the debt obligations are in line with the provisional ratings assigned on May 11, the agency said. The ratings consider the high financial leverage of the group, its limited organic revenue growth potential and event and execution risks associated with the strategy of the group.

The ratings also consider the solid business profile of the group, its market leadership position across Europe and the historically relatively stable nature of the cinema industry, the agency added.

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