Six Flags stock delisted from NYSE

Six Flags Inc. will be delisted from the New York Stock Exchange beginning April 20 for failing to meet the quantitative listing criteria set forth by the Exchange.

Six Flags Inc. has employed financial and legal advisors to aid in the restructuring of the company's outstanding debt and preferred securities. The company has assured bondholders that this restructuring will lead to the distribution of of a large number of shares of common stock.

However, the company was, until most recently, facing opposition from at least one of those very bondholders. Astonishing company executives, an unnamed bondholder had refused to meet with the company to negotiate with its lenders to avoid filing for bankruptcy protection. This scuffle, however - as disclosed by Six Flags officials - has since been resolved.

Mark Shapiro, Six Flags President and CEO, stays hopefully optimistic about the future of the company.

Says Shapiro, "The delisting of our common stock is a byproduct of the inherited debt load on our balance sheet and the overall financial markets ... In no way does it reflect the operational strength or turnaround of this company. This development will have zero impact on our park operations, the guest experience this summer or our vendor relationships."