GHC panics. Invalid core

Following code snippet triggers panic:

{-# LANGUAGE FlexibleContexts, TypeFamilies #-}
module Monad where

class Monad m => PrimMonad m where
  type PrimState m

class MonadTrans t where
  lift :: Monad m => m a -> t m a

class (PrimMonad (BasePrimMonad m), Monad m) => MonadPrim m where
  type BasePrimMonad m :: * -> *
  liftPrim :: BasePrimMonad m a -> m a


newtype Rand m a = Rand {
  runRand :: Maybe (m ()) -> m a
  }

instance (Monad m) => Monad (Rand m) where
  return           = Rand . const . return
  (Rand rnd) >>= f = Rand $ \g -> (\x -> runRand (f x) g) =<< rnd g

instance MonadTrans Rand where
  lift = Rand . const

instance MonadPrim m => MonadPrim (Rand m) where
  type BasePrimMonad (Rand m) = BasePrimMonad m
  liftPrim = liftPrim . lift

GHC 7.6.2 panics

$ ghc-7.6.2 -c Monad.hs 
ghc: panic! (the 'impossible' happened)
  (GHC version 7.6.2 for x86_64-unknown-linux):
        cgLookupPanic (probably invalid Core; try -dcore-lint)
    $dMonadTrans{v ahe} [lid]
    static binds for:
    local binds for:
    main:Monad.lift{v ra} [gid[ClassOp]]
    main:Monad.liftPrim{v rc} [gid[ClassOp]]
    main:Monad.$p1PrimMonad{v rgv} [gid[ClassOp]]
    main:Monad.$p1MonadPrim{v rgA} [gid[ClassOp]]
    main:Monad.$p2MonadPrim{v rgB} [gid[ClassOp]]

Please report this as a GHC bug:  http://www.haskell.org/ghc/reportabug

whereas 7.4.2 reports type error

$ ghc-7.4.2 -c Monad.hs 

Monad.hs:28:14:
    Occurs check: cannot construct the infinite type: m0 = t0 m0
    Expected type: BasePrimMonad (Rand m) a -> Rand m a
      Actual type: m0 a -> Rand m a
    In the expression: liftPrim . lift
    In an equation for `liftPrim': liftPrim = liftPrim . lift

Trac metadata

Trac field	Value
Version	7.6.2
Type	Bug
TypeOfFailure	OtherFailure
Priority	normal
Resolution	Unresolved
Component	Compiler
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