Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures - S&P Global Ratings’ Credit Research

Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures

Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures - S&P Global Ratings’ Credit Research
Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures
Published Jul 20, 2017
3 pages (1214 words) — Published Jul 20, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) July 20, 2017--S&P Global Ratings has revised its outlook on the Kentucky Turnpike Authority's economic development road revenue bonds to negative from stable. In addition, we assigned our 'AA-' rating to the authority's series 2017 economic development road revenue bonds and 2017B economic development road revenue refunding bonds (revitalization projects), issued for Kentucky. At the same time, we affirmed our 'AA-' ratings on the authority's economic development road fund bonds outstanding. "The outlook revision reflects our opinion of potentially increasing operating costs, particularly due to increasing retirement expenses because of eroding pension funding levels and actuarial assumption changes," said S&P Global Ratings credit analyst Timothy Little. Bond proceeds from the series 2017A bonds will be

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) July 20, 2017--S&P Global Ratings has revised its outlook on the Kentucky Turnpike Authority's economic development road revenue bonds to negative from stable. In addition, we assigned our '##-' rating to the authority's series 2017 economic development road revenue bonds and 2017B economic development road revenue refunding bonds (revitalization projects), issued for Kentucky. At the same time, we affirmed our '##-' ratings on the authority's economic development road fund bonds outstanding. "The outlook revision reflects our opinion of potentially increasing operating costs, particularly due to increasing retirement expenses because of eroding pension funding levels and actuarial assumption changes," said S&P Global Ratings credit analyst Timothy Little. Bond proceeds from the series 2017A bonds will be used to finance various revitalization projects, including economic development road projects. The 2017B bonds are intended to advance refund all or a portion...

  
Report Type:

Ratings Action

Issuer
Kentucky
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures" Jul 20, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Kentucky-Turnpike-Authority-Bond-Rating-Outlook-Revised-To-Negative-On-Potential-Financial-Pressures-1887344>
  
APA:
S&P Global Ratings’ Credit Research. (). Kentucky Turnpike Authority Bond Rating Outlook Revised To Negative On Potential Financial Pressures Jul 20, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Kentucky-Turnpike-Authority-Bond-Rating-Outlook-Revised-To-Negative-On-Potential-Financial-Pressures-1887344>
  
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