S&P Global Ratings affirmed its'A+'issuer credit rating (ICR) on the Commonwealth of Kentucky . At the same time, we affirmed our'A'long-term rating on the state's appropriation-backed obligations linked to the state rating, issued by the Kentucky State Property and Building Commission and other state agencies. Finally, we affirmed our'A-'rating on Kentucky's lease debt backed by appropriations from the Administration Office of the Courts, issued for county court projects. S&P Global Ratings’ long-term rating on certain issues linked to Kentucky's public university intercept program is'A'. The outlook is stable. Kentucky has no general obligation (GO) debt outstanding, and most of its debt is general fund appropriation-backed debt, which is payable from general fund appropriations
