Whistler (BC), Canada – News reports surfacing this afternoon indicate that investor skittishness is forcing Fortress Investments to lower its share prices for Whistler Blackcomb’s initial public offering.nIntrawest LLC, a Vancouver, British Columbia-based ski resort holding company owned by New York-based Fortress, formed Whistler Blackcomb Holdings Inc. to complete the IPO. According to Reuters, the company is scaling back the price of its IPO shares from between C$14 and C$15 per share with an indicated yield of between 7.5 and 7.8 percent, to C$12.50 and C$13 each with a yield of 6.5 to 7 percent.

Fortress remains optimistic that an initial public offering of shares in its flagship Whistler Blackcomb ski resort in British Columbia will solve Intrawest’s financial woes after efforts to sell the resort outright failed. Fortress has been strapped for cash since acquiring Intrawest in 2006 for C$2.8 billion. Creditors threatened high-profile foreclosure proceedings on Whistler Blackcomb right in the midst of the Olympics last February, a move that was forestalled by Intrawest’s restructuring of its debt.