Cineworld said on Wednesday it had approached former dissenting shareholders of its U.S. division Regal Entertainment to further delay payment obligations, as the British cinema chain operator looks to boost its liquidity.
Debt-laden Cineworld said lenders of certain debt facilities have given waivers, or promises to waive, any "events of default" in order to help with talks with the former Regal shareholders.Cineworld took on a huge debt as part of the $3.6 billion Regal deal. Its net debt stood at $8.9 billion at the end of December.
Refinitiv data showed its credit score had sunk to 1, the lowest on a scale of up to 100, meaning it was highly likely to default in the next year.
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