S&P Global Ratings affirmed its'A+'long-term rating and issuer credit rating (ICR) on the University of Louisville Foundation Inc. (the foundation or ULF), Kentucky. The outlook is stable. An ICR reflects the obligor's general creditworthiness. The rating is not specific to a given debt issue as it does not consider the security and other credit and legal characteristics for a given debt issue. ULF's series 2013 taxable fixed-rate bonds, due Sept. 1, 2043, are an unsecured general obligation with $27.94 million outstanding as of fiscal year ended June 30, 2026. Total debt outstanding, including the series 2013 bonds and other affiliate notes payable at fiscal year-end 2026, is $59.54 million and includes $30.52 million of notes payable to an
