S&P may cut Six Flags corporate credit rating

Posted Thursday, July 24, 2003 4:44 AM | Contributed by Outlane

Standard & Poor's Ratings Service said today that it placed its "BB-" corporate credit rating for Six Flags Inc. on CreditWatch with negative implications. Weak second quarter performance, and a bleak outlook for the third quarter cited as causes for the rating cut.

Read more from Reuters.

Thursday, July 24, 2003 5:59 AM
Good, good, great news. A fair representation of what the company is doing from a financial point of view.
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Thursday, July 24, 2003 6:16 AM
Let's hope that their third quarter performance improves with the weather. Remember that a lower bond rating means higher interest costs and fewer capital improvements for us.
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Thursday, July 24, 2003 6:26 AM
I really, really hope that Six Flags can get all their crap in one bag, and turn themselves around financially in the next couple of years. I think for them, it might entail starting at the bottom, and forcing their park employees to adopt a customer service attitude. If people enjoy themselves, they'll return. If it also means cutting back on capital expenditures even more, so be it. Their stock holders deserve better.

Obviously, it's possible to run a theme park company profitably on a consistent basis. The dividends I receive each quarter from Cedar Fair prove it.

Jerry
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Pinball and Coasters...Any Questions?

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Thursday, July 24, 2003 8:07 AM
But really, what could you do about employees? It's kind of hard to just beat the nice into them.

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Please visit the small parks. We don't know what's happening behind the scenes
Woodencoaster.com

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Thursday, July 24, 2003 9:15 AM
Kick The Sky's avatar Hire better employees is what you do. It is an employERs market out there folks. They can be picky as to who they hire.

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Bob Hansen
Resident Airtime Whore

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Thursday, July 24, 2003 9:33 AM
Outlane, you've got it bass-ackwards. They need to start from the top, not the bottom.
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Thursday, July 24, 2003 1:58 PM
Some parks such as SFWoA are tring to 'better' there customer service, and it shows(on most days). Yea, you will find a few bad apples at any park here and there. But one of the real reasons why alot of SFinc parks have bad customer service, it's not the seasonal employees, it's the crapy PR departments. Either they hire bad or lazy employees, or they treat there good employees like crap.

SFWoA is working from the bottom, but the top end needs alot of help. Just as someone else sort of said in this thread. When and if they 'better' there top end either at the copr. office or localy, the rest will fall into place.

Anther big issue is money, there's just not enough to go around to pay enough employees to run a park the way it should be.

IMO, SF Inc. needs to quit buying up small, or run down parks, maybe unload a few and start working on customer service and park quilty. The rest will follow.

My formula:

Customer service+park quilty+attractions=$$$$$

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Is it May yet??

Zero g Network

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