From: Hershey, PA, USA
Registered: Apr 2000
posted 12-05-2000 03:58 PM
The Wall Street Journal reports today (December 5, 2000) that Moody's has downgraded IMAX debt to junk bond status because of the company's inability to collect its lease payments from comercial theatre operators. Moody's indicated that the company's rapidly eroding liquidity position and general lack of financing options contributed to the downgrade.
The article also reports that IMAX placed Regal in default of its lease obligations on November 10.
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