Summary: University Of Kentucky; Appropriations; Public Coll/Univ - Unlimited Student Fees

S&P Global Ratings raised its long-term rating on University of Kentucky's (UK) general receipts bonds to 'AA+' from 'AA'. S&P Global Ratings also raised its long-term rating on UK's outstanding $25 million series 2019A certificates of participation (COP) and $6.8 million series 2019B COP to 'AA' from 'AA-'. The COPs are secured by their subordinated general receipts pledge and utilize a capitalized lease structure. In addition, S&P Global Ratings assigned its 'AA+' long-term rating to UK's $27.52 million series 2022A tax-exempt general receipts bonds. Total debt affected by this action is $1.1 billion including $17.1 million of capitalized leases (other than the 2019A and 2019B COPs). The outlook is stable on all rated issues. The higher rating reflects UK's healthy

...S&P Global Ratings raised its long-term rating on University of Kentucky's (UK) general receipts bonds to '##+' from '##'. S&P Global Ratings also raised its long-term rating on UK's outstanding $25 million series 2019A certificates of participation (COP) and $6.8 million series 2019B COP to '##' from '##-'. The COPs are secured by their subordinated general receipts pledge and utilize a capitalized lease structure. In addition, S&P Global Ratings assigned its '##+' long-term rating to UK's $27.52 million series 2022A tax-exempt general receipts bonds. Total debt affected by this action is $1.1 billion including $17.1 million of capitalized leases (other than the 2019A and 2019B COPs). The outlook is stable on all rated issues. The higher rating reflects UK's healthy financial performance and position, best in class management and governance, recent favorable enrollment trend and generally stable patient utilization, ample available resources and low debt burden based on maximum annual...

Summary