Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to University of Kentucky's series 2009A general receipts bonds. Additionally, Standard&Poor's affirmed its 'AA-' underlying ratings (SPURs) on the university's outstanding debt. The outlook remains positive. The 'AA-' long-term rating reflects the university's: Land-grant flagship status, coupled with its broad programmatic offerings and nationally recognized academic medical center; Historical solid levels of state operating support, and legislative support of the university's "Top 20 Business Plan;" Historically healthy financial operations as evidenced by the consistent generation of operating surpluses on a full accrual basis, along with balanced operations for fiscal 2008; Good revenue diversity with hospital services accounting for 45% of total operating revenues along with healthy hospital operating
