Bloomberg Law
June 29, 2022, 12:00 PM

DISTRESSED DAILY: LA Fitness Gets Back in Shape After Pandemic

Teresa Xie

LA Fitness International LLC is showing signs of a steady recovery as consumers leave at-home workouts behind and start heading back to the gym.

The Los Angeles-based fitness club operator ended the first quarter of 2022 with a better-than-expected performance, which should allow the company to “comfortably” cover its fixed charges going forward, according to S&P Global Ratings. Although Fitness International’s total membership base is still 15% below pre-pandemic levels, the company is expected to end the year with revenue approximately 15%-20% higher than in 2021’s, S&P credit analyst Jason Siegfried wrote in a note last week.

S&P upgraded Fitness ...

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