On March 23, 2005, Standard&Poor's Ratings Services assigned its 'BB' rating and its recovery rating of '3' to Weight Watchers International Inc.'s (WWI) new $150 million term loan B due 2010, indicating that the lenders can expect meaningful (50%-80%) recovery of principal in the event of a default or bankruptcy. At the same time, Standard&Poor's affirmed its current ratings on the commercial weight-loss service provider, including its 'BB' corporate credit rating. The 'B+' rating for the $250 million subordinated notes due 2009 was withdrawn, as the issue was paid off in full. The outlook is stable. Woodbury, N.Y.-based WWI had about $469 million of total debt outstanding at Jan. 1, 2005. Proceeds from the new $150
