...NEW YORK (Standard & Poor's) Jan. 26, 2015--Standard & Poor's Ratings Services has assigned its 'A+' long-term rating, with a negative outlook, to the Kentucky State Property & Building Commission's revenue bonds, project number 108, series A and B. At the same time, Standard & Poor's affirmed its '##-' issuer credit rating (ICR) on Kentucky and its 'A+' rating on the commission's parity debt outstanding. The outlook is negative. "The 'A+' rating on the general fund bonds reflects our view of the security from lease rental payments from the Kentucky Finance and Administration Cabinet, an agency of the Commonwealth of Kentucky, sufficient to pay debt service on the bonds; and the state's general credit characteristics," said Standard & Poor's credit analyst John Sugden. We understand that bond proceeds of about $150 million, including premium, from series A will fund various economic development and community development projects. Proceeds from the series B bonds will refund project notes...
