Moody's upgrades Alterra

Moody's Investors Service said it upgraded Alterra Mountain Co.'s corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD and the first-lien senior secured revolver and term loan to B1 from B2.

“The CFR upgrade to B1 reflects Moody's expectation for continued good operating performance over the next year following a very strong 2021/2022 ski season that demonstrated healthy consumer demand and good operating execution. Total revenue and earnings both surpassed pre-coronavirus levels as the result of strong ski volume and yield management through dynamic pricing, cost discipline, and continued investment in transformational upgrades,” the agency said in a press release.

The outlook is stable.

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