S&P rates Weight Watchers loan BB

Standard & Poor's said it assigned its BB rating and its recovery rating of 3 to Weight Watchers International Inc.'s new $150 million term loan B due 2010.

At the same time, S&P affirmed its current ratings on the company, including its BB corporate credit rating, $350 million revolving credit facility and $150 million term loan. The outlook is stable.

Proceeds from the new $150 million loan were used to pay-off the outstanding balance on the company's $350 million secured revolving credit facility and involves no additional debt.

S&P said the ratings on Weight Watchers reflect the company's narrow business focus, its participation in the highly competitive weight-loss industry and its substantial debt levels.

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