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National CineMedia Gets Credit Rating Downgrade at S&P Global

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hollywoodreporter.com
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In-theater advertising firm National CineMedia has been hit with a credit rating downgrade from S&P Global Ratings. The research firm on Thursday lowered the company's rating to B, from B+. "The negative outlook reflects the uncertainty around the length and the extent of the pandemic's impact on theater attendance and the potential that a longer than expected shutdown, a slower than expected recovery in theater attendance, or a prolonged impact on national advertising could cause the company's cash balance to deteriorate over the next 12 months," S&P Global said in an investors note.

Major cinema chains in mid-March shuttered their theaters amid the coronavirus spread, leading National CineMedia to cut operating costs and draw down on its.

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