NEW YORK (Standard&Poor's) April 11, 2011--Standard&Poor's Ratings Services said today that it assigned its 'BB' rating to Vail Resorts Inc.'s proposed $390 million senior subordinated notes due 2019. The rating is the same as the corporate credit rating on Vail. We also assigned a recovery rating of '3' to the notes, indicating our expectation of meaningful (50% to 70%) recovery for bondholders in the event of a payment default. (For the recovery analysis, see Standard&Poor's recovery report on Vail, to be published on RatingsDirect as soon as possible following the release of this report.) The company intends to use the proceeds from the notes to refinance its $390 million 6.75% senior subordinate notes due
