Park City, Utah, Upgraded to AA-Minus by S&P

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Park City, Utah's existing sales tax revenue bonds.

At the same time, Standard & Poor's assigned its AA-minus long-term rating to the city's series 2015 sales tax revenue bonds. The outlook on all ratings is stable.

"The raised ratings are based on the positive resolution of the lawsuit between Park City Mountain Resort and Talisker Land Holdings, which resulted in one of the city's main ski resorts remaining open during the 2014 winter season," said Standard & Poor's credit analyst Li Yang.

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