S&P upgrades Six Flags

Standard & Poor's said it raised the corporate credit rating Six Flags Entertainment Corp. to B+ from B.

The outlook is stable.

"The rating upgrade reflects strong EBITDA growth in the first nine months of 2010, which, combined with a much lower debt balance following Six Flags' recent emergence from bankruptcy and an adequate liquidity position, has resulted in a credit profile in line with a B+ rating," S&P analyst Ariel Silverberg said in a statement.

The B+ rating on reflects Six Flags' high debt leverage, significant seasonality and high capital expenditure needs, the agency said.

The company's good geographic diversity only partially offsets these risks, the agency noted.

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