S&P pulls Vail from watch

S&P said it affirmed Vail Resorts Inc.’s ratings, including the BB rating on its senior unsecured notes, and removed them from CreditWatch with negative implications, where they were placed on Dec. 15.

The agency assigned a stable outlook. “The stable outlook reflects our expectation that Vail will maintain leverage near our 4.25x downgrade threshold in fiscal 2021. Additionally, under our base-case assumptions, we believe Vail could sustain leverage below this downgrade threshold in fiscal 2022 even if dividends resume and with a moderate amount of leveraging acquisitions, as well as a normal 2021/2022 ski season with average snowfall,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.