We forecast U.S.-based Weight Watchers International Inc.'s operating performance will slightly improve during 2016 following good membership growth during the key winter season. We are also affirming our 'B-' corporate credit rating on the company and our 'B-'issue-level rating on Weight Watchers' first-lien revolver and term loan. The '4' recovery rating on the first-lien facilities is unchanged. The stable outlook reflects our view Weight Watchers will maintain debt-to-EBITDA leverage near the low-7x area during the next year as a result of improving profitability and good cash flow generation following solid membership growth this past winter season. On May 27, 2016, S&P Global Ratings affirmed its 'B-' corporate credit rating on New York City-based Weight Watchers International Inc. The outlook is
