S&P changes SeaWorld to stable

S&P said it revised its outlook on SeaWorld Parks & Entertainment Inc. to stable from negative.

At the same time, the agency affirmed the B issuer credit rating and all other ratings on SeaWorld.

“The outlook revision reflects our belief that the company is no longer at risk of a thinning covenant cushion over the near term given improved operating performance,” S&P said in a news release.

“We raised our EBITDA forecast through 2019 because of our assumption that attendance at the company's SeaWorld San Diego and Orlando parks has rebounded as a result of improved communication initiatives and increased reputational advertising spending, specifically its Park to Planet marketing campaign, as well as our assumption of an improvement in international visitation to the Orlando park.”

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