downgraded

In what is most unwelcome news for folks who love going to the movies, the biggest movie theater chain in North America, AMC Theatres, has been given a bad credit rating and forecast by S&P Global. In lieu of the continuing coronavirus pandemic, which appears to be only accelerating in North America and most of Europe, the financial corporation has reevaluated its credit score for AMC Entertainment, downgrading it from a B to a CCC-. This moves the company’s prospects from “highly speculative” to “default imminent, with little prospect for recovery.” AMC Theatres, which was among the first national movie…