Inn of the Mountain Gods Resort and Casino - S&P Credit Research

Inn of the Mountain Gods Resort and Casino

1627 words — Published Sep 23, 2009
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Limited competition in southern New Mexico Missed interest payment on its senior notes Strained liquidity Lack of geographic diversity The rating on Inn of the Mountain Gods Resort and Casino (IMG) reflects a missed interest payment on its 12% senior notes due November 2010. For the first fiscal quarter of 2010 (ended July 2009), year-over-year revenue declined 7%, to $31 million, because of lower revenues from gaming and recreation. Year-over-year EBITDA for the same period was essentially flat with that of the first quarter of fiscal 2009 because of lower operating expenses as a percentage of revenue. IMG's liquidity is strained. At July 31, 2009, last-12-months' EBITDA was $34.5 million, which was insufficient to fund its fixed charges, which included:

Brief Excerpt:

RESEARCH Inn of the Mountain Gods Resort and Casino Publication date: 23-Sep-2009 Primary Credit Analyst: Ariel Silverberg, New York (1) 212-438-1807; Major Rating Factors Corporate Credit Rating...

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Full Report

Inn of the Mountain Gods Resort and Casino
Casinos & Gaming (25301010)
Global Issuers
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S&P Credit Research. "Inn of the Mountain Gods Resort and Casino" Sep 23, 2009. Alacra Store. Feb 28, 2015. <>
S&P Credit Research. (). Inn of the Mountain Gods Resort and Casino Sep 23, 2009. New York, NY: Alacra Store. Retrieved Feb 28, 2015 from <>
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