17.03.2016 04:51:00
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Cinemark USA, Inc. -- Moody's assigns B2 unsecured rating to Cinemark's add-on bonds
New York, March 16, 2016 -- Moody's Investors Service assigned a B2 rating to the proposed $225 million add-on to Cinemark USA, Inc.'s (Cinemark) $530 million, 4.875% unsecured notes maturing 2023. The new notes will have substantially the same terms. The company expects to use proceeds to fund a tender for Cinemark's 7.375% senior subordinated bonds due June 2021 ($200 million outstanding). Moody's will withdraw the B3 senior subordinated rating on these notes when they are fully tendered. The B1 corporate family rating and stable outlook are unchanged.