Six Flags Inc. Credit Rating Lowered to 'B+', Off CreditWatch; Outlook Negative Oct 03
- ID: 1831784
- October 2003
- Standard & Poors
NEW YORK (Standard & Poor's) Oct. 27, 2003--Standard & Poor's Ratings Services said today that it lowered its corporate credit rating on Six Flags Inc. to 'B+' from 'BB-' and removed the rating from CreditWatch, where it was placed on July 22, 2003. The rating outlook is negative. 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 downgrade is based on the company's weak operating outlook for the full 2003, and higher debt leverage," said Standard & Poor's credit analyst Hal F. Diamond. "In...
Companies mentioned in this report are:
- Six Flags Entertainment Corp.
Action: Downgraded, Off CreditWatch
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.