Research Update: Six Flags Upgraded To 'BB-'; Outlook Stable Feb 11

Standard & Poors, February 2011

Abstract
U.S. theme park operator Six Flags' credit measures improved meaningfully in 2010 due to substantial debt reduction following its emergence from bankruptcy and strong EBITDA growth. We are raising our rating on the company to 'BB-' from 'B+'. The stable rating outlook reflects our expectation that operating performance in 2011 will be relatively flat with 2010, which should allow Six Flags to maintain current credit measures in line with the rating. On Feb. 24, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Grand Prairie, Texas-based theme park operator Six Flags Entertainment Corp. (SFEC) to 'BB-' from 'B+'. The rating outlook is stable. At the same time, we raised our issue-level rating on Six Flags Theme Parks...

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

Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

- Six Flags Entertainment Corp.
- Six Flags Theme Parks Inc.
- Six Flags Entertainment Corp.

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