Palace Entertainment Holdings, LLC -- Moody's changes Palace Entertainment rating outlook to Negative from Stable; existing ratings affirmed

New York, March 05, 2014 -- Moody's Investors Service (Moody's) changed the rating outlook for Palace Entertainment Holdings, LLC (Palace) to negative from stable and affirmed the existing ratings including the company's B2 Corporate Family Rating (CFR). The change in rating outlook reflects Moody's concern that a recovery in EBITDA in 2014 following weaker than anticipated performance during fiscal year 2013 compared to our expectations and other rated regional amusement park operators might be insufficient to reduce debt-to-EBITDA leverage from 6.8x as of Q1 2014 to a level appropriate for the current ratings.

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