| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Six Flags Inc. > News item |
S&P cuts Six Flags convertibles
Standard & Poor's said it lowered its issue-level rating on Six Flags Inc.'s 4.5% convertible senior notes due 2015 to D from CC, reflecting the company's failure to make its May 15 interest payment.
In addition, the agency said it raised the issue-level rating on Six Flags' 9.75% senior notes to C from D, and lowered the issue-level rating on the company's 8.875% senior notes due 2010 and 9.625% senior notes due 2014 to C from CC.
According to S&P, the corporate credit rating on the company remains at D.
The agency added that a default has not occurred relative to the legal provision of the 4.5% convertible notes, since there is a 30-day grace period to make the payment.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.