The rating on University of Kentucky's consolidated education building bonds reflects the university's: Position as the flagship institution in the higher-education funding hierarchy, Solid financial operations, Good levels of unrestricted funds, and Manageable debt burden. A first lien pledge of tuition and fees from students attending the university's main campus and Lexington Community College secure the bonds. Pledged revenues provide 5.84 times (x) coverage in fiscal 2000. In addition, amortization of debt service is rapid with all consolidated educational buildings' debt paid off in 20 years. Bond proceeds will fund the renovation and upgrade of the university's student athletic facilities, as well as the construction of an additional 300 parking spaces. The University of Kentucky manages the main Lexington campus
