For the nine months ended Nov. 30, Orion Pictures showed a loss of $14.9 million (78¢ a share) versus a profit of $8.46 million (37¢). For the third quarter, the company showed a loss of $15.61 million (75¢) against last year’s profit of $1.76 million (8¢). The results prompted Standard & Poor’s to downgrade the company’s $265 million debt, dropping subordinated debt to a CCC-plus from B-minus.

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