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Prospector
Profile
07.1066
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| Panavision, Inc. |
NAICS |
333315 |
| 6219 De Soto Avenue
Woodland Hills, CA 91367 |
Description |
Photograph Equipment Mfg. |
| (818) 316-1000 |
Employees |
1211 |
| http://www.panavision.com/ |
Revenue |
(mil) |
233.0000 |
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Income |
(mil) |
-23.6800 |
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Assets |
(mil) |
677.3200 |
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Liability |
(mil) |
460.8900 |
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(for the year ended 2005-12-31) |
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Category:
Low Rating
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Event:
Moody's Investors Service downgraded Panavision, Inc.'s senior secured second lien facility to Caa2, LGD5, 84% from Caa1, LGD5, 84%. The rating outlook is stable. Moody's noted that the company's rating reflects high financial risk, some degree of volatility in its core camera rental business, uncertain asset coverage, and weak liquidity. Standard & Poor's Ratings Services also assigned a 'CCC+' rating to the company's second-lien facility. The rating outlook was revised to negative from stable. The ratings reflect the company's high leverage, potential for tightening liquidity, and uncertain growth prospects.
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Intellectual Property:
The Company relies on a combination of patents, licensing arrangements, trade names, trademarks, service marks, trade secrets, know-how and proprietary technology to protect intellectual property rights. It owns or has been assigned or licensed domestic and foreign patents and patent applications relating to cameras, lenses and accessories, including the patent for the compound zoom technology granted in late 2005. This technology is currently incorporated in its 300X compound zoom lens. The Company also owns or has been assigned several domestic and foreign trademark or service mark registrations including PANAVISION®, GENESIS® PANAFLEX®, PANAHEAD®, PANALITE®, PANASTAR®, PRIMO®, PRIMO ZOOM®, PRIMO MACRO ZOOM®, PRIMO-L®, PRIMO DIGITAL®, MILLENNIUM® and ULTRAVIEW® among others. [SEC Filing 10-K 03-31-06]
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Description:
The Company designs, manufactures, supplies high precision camera systems comprising cameras, lenses and accessories for the motion picture, television series and television commercial markets.
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Officers:
Ronald O. Perelman (Co-Chair); Kenneth Ziffren (Co-Chair); Howard Gittis (Vice Chair); Robert L. Beitcher (Pres. & CEO); Ross G. Landsbaum (EVP & CFO); Edward Grebow (Dir.); Ed Gregory Hookstratten (Dir.); James R. Maher (Dir.); Martin D. Payson (Dir.); John A. Scarcella (Dir.); Robert S. Wiesenthal (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
39,380,729 common shares outstanding as of March 22, 2006.
12.5% senior notes due 2009.
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Notes:
The company has yet to file its annual report for the year ended Dec. 31, 2006 with the U.S. Securities & Exchange Commission.
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