Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to University of Kentucky's $12.5 million series 2010A general receipts taxable (Build America Bonds) bonds and $13.0 million series 2010B general receipts taxable qualified energy conservation bonds. Additionally, Standard&Poor's affirmed its 'AA-' long-term rating and underlying ratings (SPURs) on the university's previously issued debt. The outlook remains stable. The 'AA-' long-term rating reflects our assessment of the university's: Land-grant flagship status, coupled with its broad programmatic offerings and nationally recognized academic medical center; Historically solid levels of state operating support, and legislative support of the university's "Top 20 Business Plan"; Healthy financial operations as evidenced by an operating surplus on a full accrual basis in fiscal 2010, rebounding
