Town Sports Int'l (CLUB) Posts Q4 GAAP EPS of $3.47

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S&P Downgrades Town Sports Int'l (CLUB) to 'SD'; Debt Repurchase = Distressed Restructuring

March 8, 2016 10:57 AM EST

Standard & Poor's Ratings Services said it lowered its corporate credit rating on Town Sports International Holdings Inc. (Nasdaq: CLUB) to 'SD' from 'B-'. We also lowered our issue-level rating on subsidiary Town Sports International LLC's term loan due 2020 to 'D' to reflect the distressed restructuring that we view as tantamount to default. We expect that the issue-level rating on the term... More

Piper Jaffray Remains Sidelined as Town Sports Int'l (CLUB) Shows Encouraging Membership Metrics

March 8, 2016 10:03 AM EST

Piper Jaffray reiterated a Neutral rating and $2.00 price target on Town Sports (NASDAQ: CLUB) following the company's 4Q. In Q4, Town Sports added an incremental 9k members and had a monthly attrition rate of 3.4%, an improvement from 4.4% in Q3 and 3.9% in Q4 2014. Currently,... More