S&P: Gaylord on watch

Standard & Poor's said it placed its B corporate credit rating for Gaylord Entertainment Co., along with all related issue-level ratings, on Creditwatch with negative implications.

The Creditwatch listing follows the unprecedented flooding of the Cumberland River in Nashville, Tenn., to which the Gaylord Opryland Resort sits adjacent, the agency said.

Opryland has closed due to flood damage and the company has indicated the hotel will remain closed for several months, the agency said, noting that its concerns stem from the likely negative impact of the closure on Gaylord's cash flow, of which Opryland contributed about $66 million during the 12 months ended March 31.

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