AMC's Credit Rating Downgraded by S&P With Recovery Unlikely https://t.co/3g6hiOY6cM— TheWrap (@TheWrap) April 2, 2020
- They are in deeeeep
- Apparently AMC A-list just started being profitable for them before the world went to full shit.
- They furloughed all employees (including the CEO).
- If they don't open by mid-Summer (it aint happening, buddy) they're in serious trouble of closing for good.
- They plan on asking the government for some of that bail out money.
- They reported a 5+ billion deficit at the end of 2019 and losses of $149 million for the year.
- Worth noting: the Trump DOJ is currently trying to get the Paramount Decree overturned. If it is overturned then distributors (Disney, Netflix, etc.) can be exhibitors (basically Disney can buy up abandoned AMCs and only show Lion King 15 and Iron Man 27).
ONTD, are you ready for Disney and Netflix theaters?