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Moody's downgrades Diamond Resorts ratings

May 04, 2020 - SNL Real Estate Daily

The outlook was revised to negative.

Moody's rating agency downgraded its corporate family rating on Diamond Resorts International Inc. to Caa1 from B3 and its probability of default rating to Caa1-PD from B3-PD.

The outlook was also changed to negative from stable.

Moody's attributed the ratings action to its expectation that the lodging landlord's earnings will be pressured in 2020 and 2021 due to travel restrictions and macroeconomic weakness because of the spread of the cor...