Dave McNary Film ReporterCredit rating agency Standard and Poors has warned that the AMC Entertainment chain is in danger of defaulting on its debt due to the ongoing COVID-19 pandemic.S&P issued the bleak warning Friday as part of a downgrade in the company’s credit rating from CCC+ to CCC-, moving into the junk bond category, and cited the ongoing struggles in the exhibition industry.
Major studios have been delaying high-profile releases in North America in the wake of a downbeat performance by Christopher Nolan’s “Tenet” — which took in only $3.4 million in its fourth weekend amid reluctance by many moviegoers to attend.“The ongoing coronavirus pandemic will continue to have an impact on theater attendance and consumer behavior into.
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