NEW YORK (Standard&Poor's) June 6, 2014--Standard&Poor's Ratings Services said today that its ratings on Broomfield, Co.-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 intends to redeem and fully retire $175 million in principal of its $390 million senior notes due 2019 with cash on hand. We continue to assess Vail's financial risk profile as "significant," reflecting our belief that, notwithstanding the proposed debt reduction, adjusted leverage will remain at about 3x or above over the next few years and adjusted funds from operations (FFO) to debt will remain in the mid-20% area. This incorporates our performance expectations
