Six Flags (SIX) Lower After Saying Reaching Guidance Will Be Extremely Difficult; Risk to Certain Financial Covenants
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Six Flags (NYSE: SIX) is plunging after-hours action after the company said given the Company's performance to date, recent attendance trends, and the additional $15 million of cash operating expenses, reaching the prior adjusted EBITDA guidance will be extremely difficult. And although the second quarter is not complete, the Company is at risk of not complying with certain financial covenants in its bank credit agreement. The Company is in discussions with the agent bank and intends to seek amendments to those covenants.
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