AMC Debt Renegotiation Should Inspire Confidence -- Market Talk

Dow Jones07-24

1804 ET - AMC's renegotiation of its debt maturing in 2026 should be seen as a necessary step to help keep the company afloat, according Wedbush analyst Michael Pachter. Though the move led S&P to downgrade the AMC's rating to selective default from CCC+, Pachter says he believes the exchange for new term loans due in 2029 will buy AMC time to get its finances in order by selling assets or growing profits. "I think time matters far more than the interest rate, and it was important that they extend the term," Pachter says.(victor.swezey@wsj.com; @vicswezey)

(END) Dow Jones Newswires

July 23, 2024 18:04 ET (22:04 GMT)

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