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Dan Snyder‘s belly-uppish theme park chain, Six Flags, took yet another fiscal knee to the naughties from Wall Street analysts.
As the markets closed on Tuesday, Moody’s Investment Service pushed Six Flags’ debt rating “deeper into junk status” because of “concerns about a potential future default,” says a Forbes’ report.
Snyder’s company is more than $2.2 billion in debt, and according to the report, two notes totaling $318.5 million come due by Feb. 1, 2010. Moody’s “does not expect Six Flags to create enough free cash flow or have sufficient unused revolving credit capacity” to make good on those obligations.
Six Flags stock (SIX), which sold for nearly $12 a share in the months after Snyder took over in late 2005, was trading for just 66 cents this morning.
Speaking of skeletal remains: Skeletal remains were found Wednesday on the grounds of Six Flags Fiesta Texas. Police say the bones came from an unidentified human, and had been there at least six months.
Keep the dial right here for all the breaking news in Snyder’s Six Flags soap opera.