Moody's: Mountain Gods view stable

Moody's Investors Service said it revised the outlook for Inn of the Mountain Gods Resort and Casino to stable from negative to reflect its improved financial profile. The agency affirmed the B3 corporate family and probability-of-default ratings and B3 (LGD4, 54%) senior note ratings.

Despite past operating and management difficulties, revenue and cash flow growth and expense management have eased near-term liquidity concerns making the likelihood of default more remote, according to Moody's. The debt-to-EBITDA ratio improved to 5.2 times from 8 times.

The B3 corporate family rating continues to acknowledge the issuer's relatively small size and single asset profile, and the need for more improvements to ensure stronger, longer-term liquidity, the agency said.

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