PARK CITY — Sometimes even an A-plus just isn't good enough.
Such was the case for the Park City government, which recently got the news that its A-plus bond rating was being changed by Standard & Poors.
That news was good, by the way.
The nation's pre-eminent financial rating service informed Park City this week that it had upgraded the city's General Obligation Bonds grade from an A-plus to an AA-minus. S&P analysts gave the city extra credit for its continued strong financial growth, rising wealth levels of the full-time population and conservative fiscal management leading up to, during and following the 2002 Winter Olympics.
S&P, which evaluates ratings every few years, had been hesitant to give Park City the higher endorsement it coveted.
"We're thrilled about S&P's announcement," said Park City budget director Mark Christensen. "It's a good indicator of the city's relative (financial) health."
AAA is the highest obtainable score in S&P's system, which helps determine a city's credit-worthiness and financial strength to potential lenders.
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