S&P affirms Bally Total Fitness

Standard & Poor's said it affirmed its ratings, including the CCC corporate credit rating, on Bally Total Fitness Holding Corp.

All ratings are removed from CreditWatch, where they were placed with developing implications on Dec. 2, based the company's exploration of strategic alternatives, the agency said.

S&P added that the ratings on Bally reflect the company's significant near-term maturities, heavy debt and operating lease burden and negative discretionary cash flow, adding that these factors are only partially offset by the company's geographic diversity and large club base.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.