March 7, 2017 / 6:53 PM / 4 months ago

BRIEF-S&P says Atlantic City, NJ GO debt rating raised to 'CCC' on improved operating environment

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March 7 (Reuters) - S&P Global Ratings:

* S&P says Atlantic City, NJ GO debt rating raised to 'CCC' on improved operating environment; outlook developing

* Rating upgrade reflects opinion that near-term likelihood of default has diminished following increased state intervention

* Despite the state's increased intervention, bankruptcy remains an option for the city

* In our opinion, Atlantic City's "obligations remain vulnerable to nonpayment"

* In event of adverse financial/economic conditions, is not likely to have capacity to meet financial commitment Source text: (bit.ly/2mTNtlC)

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