Fitch: Six Flags unaffected

Fitch Ratings said that Six Flags Inc.'s (B-/negative) ratings are not affected by the company's announcement that it entered into a definitive agreement with PARC Management LLC to sell seven parks for $312 million, including $275 million in cash and a 10-year note receivable for $37 million.

The agency said the completion of the park sales will enhance Six Flags' financial flexibility. Combined with a land sale for $77 million in June 2006, the company will have gross cash proceeds of $352 million for debt reduction.

However, the negative outlook reflects Six Flags' operating trends, which Fitch said continued to deteriorate in 2006.

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