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
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Research type: News
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