You will want to check the license to use the theme, it might require you to leave it there. If not, then read on:
Some themes give you instructions on where to change the "Theme By" variable, which is %1$s in your code. The theme I used is designed to be modified using the GNU license and listed the various places to change the information.
You can change this line:
<?php printf( __( 'Sixteen Theme by %1$s', 'sixteen' ), 'InkHive' ); ?>
to read
<?php printf( __( 'RocksAndBubbles Theme by RocksAndBubbles', 'rocksandbubbles' ), 'InkHive' ); ?>
BUT, like I said, make sure you are not violating any license agreement, if so, it is better to go find another theme that allows you to do what ever you want to it.