American Skiing expects to renegotiate revolver

By Sara Rosenberg

New York, March 18 - American Skiing Co. is anticipating a renegotiation with its lenders on the maximum availability under its current revolving senior credit facility. According to a filing with the Securities and Exchange Commission, the company failed to "consummate the optional prepayment" on or before Dec. 27, 2001. Due to this, maximum borrowings available under the revolver will be zero from Aug. 1.

"We currently anticipate renegotiating these terms in conjunction with our sale of a significant asset," the filing said.

Fleet National Bank is the lead agent on the deal.

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