Moody's rates Cedar Fair loan Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to Cedar Fair, LP and a Ba3 rating to its senior secured credit facility.

The outlook is stable, which incorporates Moody's expectations that Cedar Fair will issue $250 million of equity within six months of the transaction's close and apply proceeds to debt reduction.

Moody's said Cedar Fair's ratings reflect its high financial risk, including leverage of almost five times debt-to-EBITDA, and inherently shareholder oriented bias as a master limited partnership.

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