Moody’s rates Screenvision, facilities B1

Moody's Investors Service said it assigned Sequel Merger Sub II LLC a B1 corporate family rating, a B1-PD probability of default rating and B1 ratings to its proposed $30 million senior secured first-lien revolving credit facility and $175 million first-lien term loan.

The outlook is stable.

The new loans are being issued as part of a transaction whereby affiliates of Abry Partners are purchasing a majority stake in Screenvision. In addition to the credit facilities, affiliates of Abry are investing new cash equity.

Screenvision's existing owners, affiliates of Shamrock Capital Advisors and AMC Entertainment, will roll over a portion of their equity.

At transaction close, Sequel Merger Sub will merge with Screenvision LLC, the latter of which will be the surviving entity.

The transaction is expected to close in early July.

Moody’s said the B1 corporate family rating broadly reflects the company's small revenue base, modest leverage, and a well-established market position for on-screen cinema advertising.

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