...NEW YORK (Standard & Poor's) Nov. 25, 2015--Standard & Poor's Ratings Services said today that its ratings on Denver, Colo.--based mountain resort operator and real estate manager Intrawest Resorts Holdings Inc. (B/Stable) are unaffected by the company's announcement that it plans to sell its points-based timeshare vacation club Club Intrawest to Diamond Resorts International Inc. (B+/Stable) for $85 million. The ratings on Diamond are also unaffected by the announcement. The transaction includes the management contracts with Club Intrawest, the current balance of notes receivable, about four acres of undeveloped land, and the current balance of points available for sale. We expect Intrawest Resorts to use the proceeds from the proposed transaction for continued investment in its mountain resort and adventure businesses, strategic acquisitions, and other real estate investment opportunities. The proposed sale of the vacation club business modestly improves our view of Intrawest Resorts'...
