|Expense Ratio (net)||N/A|
|Last Cap Gain||N/A|
|Morningstar Risk Rating||N/A|
|Beta (3Y Monthly)||N/A|
|5y Average Return||N/A|
|Average for Category||N/A|
The downgrade reflects Moody's view that Diamond's leverage will remain above 6.5x for the foreseeable future, a level set as a trigger for downgrade at the time of the LBO by Apollo Global Management in 2016. For the LTM period ended June 30, 2018, Moody's adjusted leverage (including securitized debt) was above 8.0x, and without a material improvement in earnings, leverage will remain at about this level over the next year.
NEW YORK, NY / ACCESSWIRE / October 3, 2018 / Pomerantz LLP is investigating claims on behalf of investors of Diamond Resorts International, Inc. (''Diamond'' or the ''Company'') (DRII) who held, sold or tendered Diamond common stock, or derivative securities convertible into, exercisable for, or exchangeable against Diamond common stock, between July 14, 2016 and September 1, 2016, both dates inclusive. Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. The investigation concerns whether Diamond and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Moody's Investors Service ("Moody's") placed the ratings of Diamond Resorts International, Inc. on review for downgrade including its B2 Corporate Family Rating. Other ratings placed on review for downgrade are the company's Probability of Default Rating of B2-PD, secured debt rating of B1 and unsecured rating of Caa1. "The review for downgrade follows the company's weak second quarter results which were driven by increased loan loss provisions that caused the company's pro forma adjusted EBITDA to decline by almost 25% year over year," stated Pete Trombetta, Moody's lodging analyst.