Thursday, January 15, 2009

Death List Update: Six Flags On Defibrilator Alert

According to sources, the indenture trustee on Six Flags' 12.25% Notes due 2016 has confirmed that a $24.5 million interest payment on the notes was made. This buys the company a whopping two weeks before it has to make its February 1 coupon payment on its 8.875% Notes due February 2010. If the Company decides not to pay that particular coupon, it will have paid $1.6 million a day to keep operating out of bankruptcy between now and then.
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