* CIE wants to extend maturities on local debt

* Closest expiration in December, 2009 (Adds tranches, maturities, stock close, company activities)

MEXICO CITY, Nov 9 (Reuters) - Mexican entertainment company CIE said on Monday it wants to refinance portions of its local debt to extend their maturities by up to five years.

No amounts were disclosed and company officials were not immediately available for comments.

CIE, which organizes car races and concerts, has downsized operations in recent years in a bid to boost its financial health, but had its debt downgraded by Standard & Poor's in September.

Moody's is also studying a possible downgrade of CIE's debt securities.

CIE (CIEB.MX: Quote, Profile, Research) faces local debt maturities in December this year and April and October of 2010, according to filings with the Mexican stock exchange.

The company wants to extend maturities on all three tranches through 2014. Debt holders are expected to vote on CIE's restructuring proposal on Nov. 18.

CIE had total debt of 6.645 billion pesos ($492 million) as of the end of September, of which more than 80 percent was denominated in pesos.

The company's shares rose 1.33 percent to close at 6.87 pesos on Monday in Mexico City. ($1=13.5035 as of end-Sept) (Reporting by Cyntia Barrera Diaz; Editing by Tim Dobbyn)