Moody's cuts Six Flags to SGL-4

Moody's Investors Service said it downgraded Six Flags Entertainment Corp.'s speculative grade liquidity rating to SGL-4 from SGL-2 and affirmed the company's B1 corporate family rating.

Moody's said the SGL reduction reflects Six Flags' use of excess cash from its $800 million bond offering in December for share repurchases as anticipated. The note proceeds temporarily increased the amount of cash Six Flags had available to cover partnership put exercises pending execution of the planned share repurchases.

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