...March 24, 2025 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) March 24, 2025--S&P Global Ratings said today that its ratings and outlook on U.S. regional theme park operator Herschend Entertainment Co. LLC (##- /Stable) are not currently affected by the company's announcement that it will acquire all of Palace Entertainment's U.S. entertainment properties from Piolin Bidco S.A.U. (d.b.a. Parques Reunidos; B-/Stable). While transaction details, including the purchase price and financing sources, have not been disclosed, Herschend announced it has secured financing commitments from Goldman Sachs. As a result, we believe the proposed acquisition could be largely debt financed, increasing Herschend's leverage relative to our base case. The proposed acquisition significantly increases the company's scale and geographic diversification by adding Palace Entertainment's portfolio of over 20 entertainment venues across 10 U.S. states, which include amusement parks,...
