Standard & Poor's said today that Vail Resorts Inc.'s (BB-/Negative/--) acquisition of the Heavenly Ski Resort in Lake Tahoe, Calif., for approximately $102 million including minimal pre-existing debt, will not have an impact on its ratings or outlook on the company.Ratings incorporate some debt capacity as acquisition activity was expected. Although Vail still has ample borrowing availability under its credit facility, there is not much of a cushion at current ratings to materially increase leverage. Given the tough operating environment and potential volatility in cash flows caused by snow conditions, maintaining financial flexibility is an important ratings factor. Heavenly enjoys a leading market share position in the Northern California market, with approximately 850,000 skier visits. The resort is projected to
