Kentucky; Appropriations; General Obligation; Public Coll/Univ - Unlimited Student Fees; School State Program

S&P Global Ratings has revised its outlook to negative from stable and affirmed its 'A+' issuer credit rating (ICR) on Kentucky. At the same time, S&P Global Ratings affirmed its 'A' ratings on lease debt issued by various Kentucky county public property corporations, 'A' ratings on the commonwealth state aid intercept programs for schools and universities, and its 'A-' rating on lease debt backed by the appropriations from the Administration Office of the Courts (AOC). S&P Global Ratings also assigned its 'A' long-term rating to Kentucky State Property and Buildings Commission Revenue Bonds, Project No. 115. The outlook revision reflects our view there exists at least a one in three chance that funding levels of the commonwealth's pension plans could

...S&P Global Ratings has revised its outlook to negative from stable and affirmed its 'A+' issuer credit rating (ICR) on Kentucky. At the same time, S&P Global Ratings affirmed its 'A' ratings on lease debt issued by various Kentucky county public property corporations, 'A' ratings on the commonwealth state aid intercept programs for schools and universities, and its 'A-' rating on lease debt backed by the appropriations from the Administration Office of the Courts (AOC). S&P Global Ratings also assigned its 'A' long-term rating to Kentucky State Property and Buildings Commission Revenue Bonds, Project No. 115. The outlook revision reflects our view there exists at least a one in three chance that funding levels of the commonwealth's pension plans could significantly weaken and associated fixed costs could continue to grow to a level that might significantly pressure budgetary performance and flexibility. While the state has made incremental progress in addressing the underfunding of these...

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