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Recovery Report: Six Flags Theme Parks Inc.'s Secured Financing Jun 07 Product Image

Recovery Report: Six Flags Theme Parks Inc.'s Secured Financing Jun 07

  • Published: June 2007
  • Standard & Poors

Abstract
The bank loan rating on Six Flags Theme Parks Inc.'s $1.125 billion bank financing has changed. The rating is raised to 'B+' (two notches above the 'B-' corporate credit rating on the company) from 'B', while the recovery rating remains at '1', indicating expectations of very high (90%-100%) recovery in the event of a payment default. The likelihood of default for the issue is reflected in the issuer's corporate credit rating of B-/Negative/--, which has not changed. However, with the introduction of our new issue rating framework, which now incorporates recoveries in all secured issue level ratings, the secured issue rating has been raised by one notch to reflect this debt's very high recovery prospects. The facilities are secured by...

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

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 READ MORE >

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

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