Moody’s ups Alterra Mountain

Moody's Investors Service said it upgraded Alterra Mountain Co.'s corporate family rating to B1 from B2, its probability of default rating to B1-PD from B2-PD, and the rating on its existing first-lien term loan and first-lien revolving credit facilities to B1 from B2.

The outlook is stable.

“The upgrade of Alterra's ratings reflects our expectation that strong capital investments and the ongoing penetration of the IKON pass will lead to earnings growth and continued gradual improvement in credit metrics over the next 12-18 months,” said Oliver Alcantara, Moody's lead analyst for the company, in a news release.

"Alterra is expected to grow its topline in the mid-single digits organically, which will support good positive free cash flow and very good liquidity.”

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