Moody’s changes Screenvision view

Moody's Investors Service said it affirmed Screenvision, LLC's ratings, including its corporate family rating at Caa1, and changed the outlook to negative from stable.

“The outlook change to negative reflects Screenvision's weak liquidity and operating performance as ad spending continues to lag cinema attendance,” the agency said in a news release.

Although Moody's said it expects Screenvision's operating performance to improve and free cash flow to turn positive in 2023, there is uncertainty about the company's ability to refinance its $10.5 million revolver maturity before its expiration in January 2024 and address the upcoming maturity of its $25 million incremental loan coming due on Dec. 31.

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