Bulletin: Alterra Mountain Co.'s Proposed $200 Million Incremental Term Loan Due 2030 Will Modestly Increase Its Leverage

SAN FRANCISCO (S&P Global Ratings) Feb. 5, 2024--S&P Global Ratings today said that Alterra Mountain Co.'s (B+/Stable/--) proposed $200 million incremental term loan due 2030, which the company is issuing to fund permitted acquisitions and for general corporate purposes, will modestly increase its leverage. Nonetheless, we expect Alterra's S&P Global Ratings-adjusted debt to EBITDA will remain below our 6x downgrade threshold through fiscal year 2024 (ending July 2024) despite adverse weather in some of its markets at the beginning of the 2023/24 ski season. Therefore, our 'B+' issuer credit rating and stable outlook on the company are unchanged. We expect Alterra will maintain leverage of approximately 5.5x-6.0x over the next 12 months, which is modestly higher than our previous base-case

...February 5, 2024 SAN FRANCISCO (S&P Global Ratings) Feb. 5, 2024--S&P Global Ratings today said that Alterra Mountain Co.'s (B+/Stable/--) proposed $200 million incremental term loan due 2030, which the company is issuing to fund permitted acquisitions and for general corporate purposes, will modestly increase its leverage. Nonetheless, we expect Alterra's S&P Global Ratings-adjusted debt to EBITDA will remain below our 6x downgrade threshold through fiscal year 2024 (ending July 2024) despite adverse weather in some of its markets at the beginning of the 2023/24 ski season. Therefore, our 'B+' issuer credit rating and stable outlook on the company are unchanged. We expect Alterra will maintain leverage of approximately 5.5x-6.0x over the next 12 months, which is modestly higher than our previous base-case assumption of approximately 5.0x as of the end of fiscal year 2024. The stable outlook reflects our expectation that the company will maintain leverage below our 6x downgrade threshold...

Bulletin