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Healthcare

BRIEF-Cedar Fair Outlines Measures Taken In Response To Covid-19

April 16 (Reuters) - Cedar Fair LP:

* CEDAR FAIR OUTLINES MEASURES TAKEN IN RESPONSE TO COVID-19

* CEDAR FAIR ENTERTAINMENT COMPANY -WITHDRAWS LONG-TERM FINANCIAL GUIDANCE

* CEDAR FAIR ENTERTAINMENT COMPANY - SUSPENDS QUARTERLY DISTRIBUTION PAYMENTS

* CEDAR FAIR ENTERTAINMENT - ELIMINATED NEARLY ALL OF ITS SEASONAL AND PART-TIME LABOR COSTS UNTIL ITS PARKS PREPARE TO REOPEN

* CEDAR FAIR ENTERTAINMENT - REDUCED CEO’S BASE SALARY BY 40% AND BASE SALARIES OF ALL OTHER EXECUTIVES BY 25%, EFFECTIVE APRIL 27, 2020

* CEDAR FAIR ENTERTAINMENT COMPANY - DEFERRED BASE SALARIES FOR ALL OTHER SALARIED EMPLOYEES BY 25%

* CEDAR FAIR ENTERTAINMENT COMPANY -ANTICIPATES SPENDING $85-100 MILLION ON CAPITAL IMPROVEMENTS IN CALENDAR YEAR 2020

* CEDAR FAIR ENTERTAINMENT COMPANY - AS OF END OF Q1, HAD CASH ON HAND OF $26 MILLION AND $190 MILLION AVAILABLE UNDER ITS REVOLVING CREDIT FACILITY

* CEDAR FAIR ENTERTAINMENT - SHOULD PARK CLOSURES EXTEND LATER INTO YEAR, IS PREPARED TO ACTIVATE ADDITIONAL COST-CUTTING AND CASH-SAVINGS MEASURES

* CEDAR FAIR ENTERTAINMENT COMPANY -EXPECTS NET REVENUES IN Q1 OF 2020 TO BE ABOUT $10-15 MILLION LOWER THAN SAME PERIOD IN 2019

* CEDAR FAIR ENTERTAINMENT COMPANY - DEFERRED REVENUES AT END OF Q1 REMAINED UP MORE THAN $30 MILLION, OR MORE THAN 20%, OVER SAME TIME LAST YEAR Source text for Eikon: Further company coverage:

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