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Six Flags Exit Financing Rated; 'B' Corporate Credit Rating Assigned May 10 Product Image

Six Flags Exit Financing Rated; 'B' Corporate Credit Rating Assigned May 10

  • ID: 1831348
  • May 2010
  • Standard & Poors

Abstract
U.S. regional amusement park operator Six Flags Entertainment Corp. (formerly Six Flags Inc.) emerged from bankruptcy on April 30, 2010. We are assigning the company's $890 million first-lien credit facilities a rating of 'BB-' with a recovery rating of '1' and its $250 million second-lien term debt a rating of 'B-' with a recovery rating of '5'. We are assigning Six Flags a corporate credit rating of 'B' with a stable outlook. The stable outlook reflects our view that near-term liquidity will be sufficient to support the 'B' rating. CHICAGO (Standard & Poor's) May 5, 2010--Standard & Poor's Ratings Services today assigned its ratings to the $890 million first-lien credit facilities, consisting of a $120 million revolving credit facility due...

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

Action: New Rating
Action: Withdrawn

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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