University Of Kentucky 2018A And B Bonds Rated 'AA'

NEW YORK (S&P Global Ratings) Jan. 8, 2018-- S&P Global Ratings assigned its 'AA' long-term rating to University of Kentucky's (UK) $210.56 million series 2018A tax-exempt general receipts bonds and $10.13 million series 2018B taxable general receipts bonds. In addition, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating on almost $900.09 million in various existing general receipts bonds issued for and by UK. The outlook is stable on all rated issues. As of UK's fiscal year end, June 30, 2017, its outstanding long-term debt, inclusive of capitalized leases and notes, totaled $1.01 billion, and with the issuance of the series 2018 A and B bonds we estimate pro forma long-term debt will rise to $1.23 billion. "The

...NEW YORK (S&P Global Ratings) Jan. 8, 2018-- S&P Global Ratings assigned its '##' long-term rating to University of Kentucky's (UK) $210.56 million series 2018A tax-exempt general receipts bonds and $10.13 million series 2018B taxable general receipts bonds. In addition, S&P Global Ratings affirmed its '##' long-term rating and underlying rating on almost $900.09 million in various existing general receipts bonds issued for and by UK. The outlook is stable on all rated issues. As of UK's fiscal year end, June 30, 2017, its outstanding long-term debt, inclusive of capitalized leases and notes, totaled $1.01 billion, and with the issuance of the series 2018 A and B bonds we estimate pro forma long-term debt will rise to $1.23 billion. "The rating reflects our view of UK's very strong enterprise and financial profile characterized by steadily rising enrollment in most recent years, an increasing amount of students from out of state, good revenue diversity in large part due to its health care...

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