Six Flags Credit Rating Placed on Watch Neg After Disappointing 2Q Results and 3Q Prospects Jul 03
- ID: 1830998
- July 2003
- Standard & Poors
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
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