Moody's rates Cinemark notes B2, loan Ba1

Moody's Investors Service said it assigned a B2 rating to the proposed $400 million senior unsecured notes of Cinemark USA, Inc. and a Ba1 rating to its proposed senior secured first-lien credit facility.

Moody's also affirmed Cinemark's B1 corporate family and probability of default ratings and SGL-1 speculative grade liquidity rating.

The company plans to use proceeds primarily to refinance existing debt and fund the acquisition of 32 theaters from Rave Real Property Holdco, LLC for $240 million.

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