On March 11, 2003, Standard&Poor's Ratings Services raised its corporate credit and senior secured debt ratings on Woodbury, N.Y.-based Weight Watchers International Inc. (WWI) to 'BB' from 'BB-', and its subordinated debt rating on the company to 'B+' from 'B'. All ratings were removed from CreditWatch, where they were placed Dec. 19, 2002. The outlook is stable. WWI had about $455 million of total debt outstanding at Dec. 31, 2002. The upgrade reflects the company's improving financial profile and better-than-expected operating performance, driven by increased classroom attendance and product sales across most of its geographic segments. Also reflected in the ratings is the company's announced plan to acquire nine Weight Watchers franchises. Terms of the transaction were not
