Fitch Upgrades Cinemark's IDR to 'BB-'; Outlook Stable

Fitch Ratings has upgraded Cinemark Holdings, Inc.'s Long-Term Issuer Default Ratings to 'BB-' from 'B+', reflecting improved operating and financial profiles. The upgrade is supported by Cinemark's robust liquidity, market share, and cost management. Key constraints include reliance on film output and competition from streaming services. The Stable Outlook anticipates continued box office recovery. Cinemark's financial flexibility is bolstered by significant cash reserves and undrawn credit facilities, with expectations of strong free cash flow generation. The company maintains a conservative financial policy, targeting net leverage of 2x-3x.