Life Time Fitness, Inc. -- Moody's says Life Time Fitness's ratings unaffected by term loan add-on

New York, June 03, 2016 -- Moody's Investors Service ("Moody's") said Life Time Fitness, Inc.'s ("Life Time") B2 Corporate Family Rating, B2-PD Probability of Default Rating, debt instrument ratings and stable rating outlook remain unchanged following the company's announcement that it plans to upsize its first-lien term loan due 2022 by $100 million. Proceeds are expected to be used to fully repay borrowings under its revolving credit facility and to support future capex needs. The repayment of the revolver is a slight credit positive as it improves liquidity and increases borrowing capacity to support future growth. Moody's views the transaction as leverage neutral, as the net increase in debt is small relative to total lease-adjusted debt of over $3.0 billion.

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