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Six Flags Credit Rating Placed on Watch Neg After Disappointing 2Q Results and 3Q Prospects Jul 03 Product Image

Six Flags Credit Rating Placed on Watch Neg After Disappointing 2Q Results and 3Q Prospects Jul 03

  • ID: 1830998
  • July 2003
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) July 22, 2003--Standard & Poor's Ratings Service said today that it placed its 'BB-' corporate credit rating for Six Flags Inc. on CreditWatch with negative implications. Oklahoma City, Okla.-based Six Flags is the largest regional theme park operator and the second-largest theme park company in the world. Total debt and preferred stock as of June 30, 2003, was roughly $2.8 billion, which includes more than $100 million in seasonal debt. "The CreditWatch listing is based on the decline in EBITDA in the second quarter ended June 30, 2003, and a lackluster operating outlook for the key third quarter," said Standard & Poor's analyst Hal F. Diamond. EBITDA declined about 60% in the second quarter as...

Companies mentioned in this report are:
- Six Flags Entertainment Corp.

Action: On CreditWatch:Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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