Fitch cuts Six Flags notes to CCC

Fitch Ratings said it affirmed Six Flags Inc.'s issuer default rating at B- and the preferred stock at CCC-/RR6 and downgraded its senior unsecured notes to CCC/RR6 from CCC+/RR5.

Fitch affirmed Six Flags Theme Parks, Inc.'s issuer default rating at B- and secured bank credit facility at BB-/RR1.

The outlook remains negative.

Six Flags' ratings reflect the company's significant leverage and weaker-than-expected operating performance, the agency said.

These concerns are offset somewhat by the company's leading position as a regional theme park operator with strong brand awareness, relatively high barriers to entry and the geographic diversity of its parks, Fitch said.

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