On June 13, 2006, Standard&Poor's Ratings Services assigned its loan and recovery ratings to Weight Watchers International Inc.'s (WWI) $850 million senior secured bank facility due in 2011. The loan consists of a $500 million revolving credit facility and a $350 million term loan A. The facility is rated 'BB+' (one notch higher than the 'BB' corporate credit rating on Weight Watchers) with a recovery rating of '1', indicating a high expectation for full recovery of principal in the event of a payment default. Net proceeds from the credit facility will be used to refinance the company's existing $650 million senior secured credit facility. The ratings on this existing facility will be withdrawn upon the execution of the
