Summary: Asset/Liability Commission University of Kentucky

The 'AA-' rating on the University of Kentucky's general receipts project notes series 2005A, issued by the Asset/Liability Commission, reflects: The university's land-grant flagship status along with its nationally recognized academic medical center; Solid state support with its first position in Kentucky's ('AA-') funding hierarchy; Healthy financial operations as evidenced by the generation of operating surpluses for the past three fiscal years, averaging $53.3 million, with an operating surplus of $74.8 million in fiscal 2005; Good liquidity levels and manageable debt burden; Diverse revenue stream; and History of stable demand. An offsetting credit factor is the potential long-term capital needs of the university and the hospital. Proceeds of the notes will be used by the commission to pay certain expenditures

...The '##-' rating on the University of Kentucky's general receipts project notes series 2005A, issued by the Asset/Liability Commission, reflects: The university's land-grant flagship status along with its nationally recognized academic medical center; Solid state support with its first position in Kentucky's ('##-') funding hierarchy; Healthy financial operations as evidenced by the generation of operating surpluses for the past three fiscal years, averaging $53.3 million, with an operating surplus of $74.8 million in fiscal 2005; Good liquidity levels and manageable debt burden; Diverse revenue stream; and History of stable demand. An offsetting credit factor is the potential long-term capital needs of the university and the hospital. Proceeds of the notes will be used by the commission to pay certain expenditures in connection with the construction of the Patient Care Facility-Hospital for the benefit of the University of Kentucky; pay the interest coming due on the notes through and...

Summary