NEW YORK (Standard&Poor's) Sept. 12, 2014--Standard&Poor's Ratings Services said today that its ratings on Broomfield, Colo.-based Vail Resorts Inc., including our 'BB' corporate credit rating and 'BB' issue-level rating on Vail's senior subordinated notes, are unaffected by the company's announcement that it acquired Park City Mountain Resort (PCMR) for $182.5 million, funded through borrowings under the company's $400 million revolving credit facility. Notwithstanding the increase in debt, we continue to expect that adjusted leverage will remain in the low-3x area and adjusted funds from operations (FFO) to debt will remain in the mid-20% area, in line with our "significant" assessment of Vail's financial risk profile. Our credit measure expectations incorporate our expectation that PCMR will contribute
