Moody’s revises Boyne view to negative

Moody’s Investors Service said it changed the outlook to negative from stable and affirmed Boyne USA, Inc.’s ratings, including the company’s B1 corporate family rating, the B1-PD probability of default rating and the B1 rating on Boyne’s upsized $560 million second lien secured notes due 2025.

“The change to a negative outlook reflects the potential that some resorts will remain closed by the start of the 2020-2021 ski season in November 2020, or will subsequently close operations, which will hinder the company’s ability to significantly improve its credit metrics,” said Moody’s in a press release.

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