The privately held ski resort operator saw Standard & Poor’s downgrade its issuer credit rating and rating on the company’s senior secured notes due in 2025 to B- from B, citing capacity limitations at resorts and U.S. travel restrictions. The outlook is negative. S&P says it expects Powdr’s season pass revenue to fall 10%-15% in line with skier visits, and ancillary revenue to plunge ... Log in to view full article.