The Interpreter Posted April 2, 2009 Share Posted April 2, 2009 NEW YORK (AP) -- Standard & Poor's Ratings Services said Thursday it has withdrawn its solicited ratings on Six Flags Inc. and its subsidiaries at the company's request, but subsequently assigned unsolicited ratings to the troubled theme park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.... Quote Link to comment Share on other sites More sharing options...
TheCryptRaider Posted April 2, 2009 Share Posted April 2, 2009 That's sad! I hope nothing happens to Six Flags! Quote Link to comment Share on other sites More sharing options...
KIfan1980 Posted April 2, 2009 Share Posted April 2, 2009 Somthing will happen - its called bankruptcy. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted April 2, 2009 Author Share Posted April 2, 2009 Maybe, maybe not...it may also be called a sale, a transfer to the creditors, or even a "pre-packaged bankruptcy." Quote Link to comment Share on other sites More sharing options...
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