... Weight Watchers International Inc.'s recent performance has exceeded our expectations as improving membership and retention rates propel profit growth and result in stronger credit measures. In addition, we believe its financial policy will become less aggressive with the Artal Group SA (Artal) reducing its ownership to 33%. + We are raising our corporate credit rating on Weight Watchers to 'B+' from 'B'. + We are also raising our issue-level rating on the company's first-lien credit facility to '##-' from 'B', and revising the recovery rating to '2' from '3' to reflect better recovery prospects on this debt facility reflecting increased debt repayment and an increase in our emergence valuation analysis. + We are also raising our issue-level rating on the company's unsecured notes to 'B' from '###+' and revising the recovery rating to '5' from '6'. + The outlook is stable, reflecting our expectation that the company will continue its growth...
