NEW YORK (Standard&Poor's) July 24, 2003-- Standard&Poor's Ratings Services said today that it assigned its 'BB' rating to commercial weight-loss service provider Weight Watchers International Inc.'s (WWI) proposed $504.7 million term loan B facility due Dec. 31, 2009. At the same time, Standard&Poor's affirmed its 'BB' corporate credit and senior secured debt ratings and its 'B+' subordinated debt rating for WWI. The bank loan rating continues to be rated the same as the corporate credit rating because in a stressed scenario, Standard&Poor's believes that lenders could expect meaningful, but less than full, recovery of principal. The outlook is stable. Woodbury, N.Y.-based WWI had about $454 million of total debt outstanding at March
