S&P: Intrawest cut to stable

Standard & Poor's said it revised its outlook to stable from positive on Intrawest Corp. At the same time S&P affirmed its BB- corporate credit and B+ senior unsecured debt ratings on the company.

S&P said Intrawest had an overall weak ski season as challenging weather conditions at the key Whistler Blackcomb resort and Panorama resort drove down skier visits and revenue per visits.

Intrawest's business strategy is sound, according to S&P, with a portfolio of well-positioned resorts and resort accommodation developments that are supported by a strong sales and marketing team.

S&P said the company has reduced weather-related risk by diversifying its operations among various geographic markets, offering a variety of leisure activities in a resort village atmosphere.

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