Moody's: Inn of the Mountain Gods view negative

Moody's Investors Service said it changed the outlook for Inn of the Mountain Gods Resorts and Casino to negative from stable, based on the expectation that the recent deterioration in EBITDA could continue in the current fiscal year due to economic challenges.

The B3 corporate family and probability-of-default ratings as well as the B3 senior note ratings (LGD4, 52% from 54%) were affirmed.

Operating performance deteriorated in the second half of the fiscal year ended April 30 due largely to a lack of snowfall hurting the ski resort and indirectly the casino facility, as well as operating disruptions caused by high management turnover, the agency said.

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