S&P analysts state, “We expect AMC Entertainment Holdings Inc.’s AMC theaters will remain closed beyond June,” due to the impact of global current events.
This brings the popular theater chain from “Highly speculative” to “Default imminent, with little prospect for recovery.”
If AMC is success in gaining financing through the CARES act, they may be able to keep their doors open.
AMC reported a $5 billion-plus deficit at the end of 2019 and losses of $149 million for the year.