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

Inn of the Mountain Gods Resort and Casino

1629 words — Published Sep 23, 2009
Price $400.00  |  Buy this Report Now

About This Report

  
Abstract:

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

  
Report Type:

Full Report

Issuer
Inn of the Mountain Gods Resort and Casino
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Country
Region
Format:
HTML HTML
Buy Now

S&P Credit Research—S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Credit Research. "Inn of the Mountain Gods Resort and Casino" Sep 23, 2009. Alacra Store. Oct 30, 2014. <http://www.alacrastore.com/s-and-p-credit-research/Inn-of-the-Mountain-Gods-Resort-and-Casino-748027>
  
APA:
S&P Credit Research. (). Inn of the Mountain Gods Resort and Casino Sep 23, 2009. New York, NY: Alacra Store. Retrieved Oct 30, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Inn-of-the-Mountain-Gods-Resort-and-Casino-748027>
  
$400.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.