Kentucky State Property and Buildings Commission Bonds Assigned 'A' Rating; Other State Ratings Affirmed

CHICAGO (Standard&Poor's) April 29, 2016--Standard&Poor's Ratings Services has assigned its 'A' rating to the Kentucky State Property and Buildings Commission's agency fund revenue bonds refunding bonds (Project 113) issued for Kentucky, which are secured by lease payments from the Kentucky River Authority (KRA) and Kentucky Finance and Administration Cabinet. At the same time, we affirmed our 'A' ratings on lease debt issued by various Kentucky county public property corporations and our 'A-' rating on lease debt backed by the appropriations from the Administration Office of the Courts. We also affirmed our 'A+' issuer credit rating (ICR) on Kentucky and our 'A' ratings on the commonwealth state aid intercept programs for schools and universities. The outlook on

...CHICAGO (Standard & Poor's) April 29, 2016--Standard & Poor's Ratings Services has assigned its 'A' rating to the Kentucky State Property and Buildings Commission's agency fund revenue bonds refunding bonds (Project 113) issued for Kentucky, which are secured by lease payments from the Kentucky River Authority (KRA) and Kentucky Finance and Administration Cabinet. At the same time, we affirmed our 'A' ratings on lease debt issued by various Kentucky county public property corporations and our 'A-' rating on lease debt backed by the appropriations from the Administration Office of the Courts. We also affirmed our 'A+' issuer credit rating (ICR) on Kentucky and our 'A' ratings on the commonwealth state aid intercept programs for schools and universities. The outlook on all ratings is stable. The rating on the Project 113 bonds reflects our view of: + The security provided by lease rental payments made by the KRA, an agency of the Commonwealth of Kentucky, in an amount sufficient to pay debt...

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