S&P may cut Gaylord Entertainment

Standard & Poor's said it placed Gaylord Entertainment Co.'s B+ corporate credit rating on CreditWatch with negative implications.

The watch reflects concern that, with the lodging environment continuing to weaken, Gaylord's credit measures will deteriorate to a level that is no longer aligned with the current rating, according to the agency.

S&P said the company's small portfolio of hotels, increased reliance on transient business and increased group attrition rates could pressure EBITDA generation in 2009 and result in measure of debt-to-EBITDA ratio rising above the 6x threshold for the B+ rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.