NEW YORK (Standard&Poor's) Dec. 19, 2002--Standard&Poor's said today that it placed its 'BB-' long-term corporate credit and 'BB-' senior secured debt ratings on Woodbury, N.Y.-based Weight Watchers International Inc. on CreditWatch with positive implications. The company's 'B' subordinated debt rating was also placed on CreditWatch. Total debt outstanding at Sept. 28, 2002, was about $452 million. "The CreditWatch placement 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," said Standard&Poor's credit analyst David Kang. Standard&Poor's will meet with management and review Weight Watchers' operating and financial plans. Weight Watchers is the largest provider of weight-control programs in
