NEW YORK (AP) -- Standard & Poor's Ratings Services said Thursday it has withdrawn its solicited ratings on Six Flags Inc. and its subsidiaries at the company's request, but subsequently assigned unsolicited ratings to the troubled theme park operator.

"Six Flags decided to eliminate the cost of S&P's annual ratings fees given the company's decision to investigate comprehensive alternatives related to our balance sheet," said Six Flags spokeswoman Sandra Daniels.

Following the withdrawal of a company's solicited ratings, it no longer provides confidential information to S&P. To assign unsolicited ratings, S&P said it depends on "adequate publicly available information."

Later on Thursday, S&P said it assigned a "CCC" corporate credit rating to Six Flags and its subsidiary, Six Flags Theme Parks, on an unsolicited basis. The rating outlook is negative....

..."With the difficult conditions in credit markets, we believe it is unlikely that the company will be able refinance and roll over its maturities," the credit agency said....

emphasis added

http://finance.yahoo.com/news/SampP-withdr...f-14834916.html

There is no other way to put it. This is NOT good news. Not at all....

That's sad!

I hope nothing happens to Six Flags!

Somthing will happen - its called bankruptcy.

Maybe, maybe not...it may also be called a sale, a transfer to the creditors, or even a "pre-packaged bankruptcy."