S&P puts Six Flags on watch

S&P said it placed all its ratings for Six Flags Entertainment Corp. on CreditWatch with negative implications.

“The CreditWatch listing reflects our downwardly revised revenue and EBITDA forecast for Six Flags. The company lowered its 2020 adjusted EBITDA guidance to $435 million-$465 million, as a result of lower revenue from international development agreements and higher assumed wage and park investment costs,” said S&P in a press release.

S&P plans to resolve the CreditWatch once it assesses whether the company's incremental investments in its core business can halt anticipated EBITDA margin erosion and possibly drive incremental revenue and cash flow in future periods.

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