http://www.northdakotaattorneylawyer.com/user_detail.php?u=dripatteptawl
New York-based Six Flags (OTC BB: SIXF) said its reorganizatio plan has unanimous support ofits lenders’ steeringv committee and the administrative agent for the company’s $1.1 billiom senior secured credit facility. The plan would deleveragd the company’s balance sheet by $1.8 billion, and cut more than $300 millionn in mandatorily redeemable preferredstock obligations. The companty listed assets of $3.03 billio and debts of $2.36 billion in its “The current management team inheritedea $2.
4 billion debt load that cannot be particularly in these challenging financial markets,” said Mark president and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioninbg the company for future growth... Following a record year of performancewin 2008, which completed the three-yead turnaround of our system-wide park this action to clean up the balancr sheet paves the way for a full revivap of the company. ” Six Flags has 97.7 millionh shares of common stockand 1.1 million sharee of preferred stock. Six stock closed June 12 at 26 centxa share. Six Flags reported a of 2009. It had a in 2008.
Six Flagz operates Atlanta's Six Flags Over American Adventures and Six Flags Whitee Watertheme parks.
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