It appears that American Skiing Co. has found a way out from the avalanche of debt that plagues it. And one high yield analyst expects the company to stave off bankruptcy. American announced last Monday that it has agreements in place for a financial restructuring plan that will allow it to reduce its $400 million in long-term debt. This plan includes a $30 million financing package from Oak Hill Partners, a private equity firm that purchased a (now-worthless) $13 million real estate facility from American last July.
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