SeaWorld Credit Rating Lowered to Junk Status by Standard & Poor's
Skift Take
SeaWorld's brand hit has parallels to the reputation damage that fellow Florida operator Carnival Corp. has had to deal with over the last two years. Carnival is only now recovering, and SeaWorld's struggles may turn out to be more protracted because ending killer-whale shows is a decision SeaWorld isn't ready to make.
Standard & Poor's lowered SeaWorld Entertainment's credit rating to junk status, citing "significant challenges" to the brand's reputation and the challenges of improving operating performance in 2014.
The credit rating agency lowered SeaWorld's corporate credit rating to "BB-" from "BB," which makes it more costly for SeaWorld to borrow.
"The downgrade reflects our revised forecast for 2014
