Moody’s changes Odeon view to stable

Moody's Investors Service said it changed the outlook on Odeon & UCI Bond Midco Ltd.’s ratings to stable from negative.

Concurrently, the agency affirmed the B3 corporate family rating, B3-PD probability of default rating, the B3 rating on the 2018 senior secured notes issued at Odeon & UCI Finco plc and the Ba3 rating on the 2017 revolving credit facility issued at Odeon & UCI Bond Midco.

Moody’s said the stabilization of Odeon's outlook reflects the strong growth in admission levels with the company reporting a 13.4% rise in sold tickets in the first nine months of 2015. The stable outlook also reflects the stabilization of the Spanish operations and the exceptional booking and pre-booking activities in the fourth quarter of 2015 on the back of strong releases in that quarter and the positive market share trend of the company.

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