S&P assigns CEC DIP B

S&P said it assigned CEC Entertainment Inc.’s debtor-in-possession facility a B rating. CEC filed for protection under Chapter 11 on June 24.

“The B rating on the DIP primarily reflects our view of the credit risk borne by the DIP term lenders and does not indicate any ratings we might assign to the contemplated exit facilities or to the reorganized firm after bankruptcy,” S&P said in a press release.

The rating is a point-in-time rating effective only for the date of this report. “We will not review, modify, or provide ongoing surveillance of this rating,” the agency said.

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