S&P Global Ratings assigned its 'AA+' long-term rating to the estimated $162.96 million tax-exempt series 2024B and $40.74 million taxable series 2024C general receipts bonds for University of Kentucky (UK). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating on various outstanding series of general receipts bonds issued for UK. S&P Global Ratings also affirmed its 'AA' long-term rating on UK's outstanding series 2019A certificates of participation (COP) and series 2019B COP. The COPs are secured by their subordinated general receipts pledge and utilize a capitalized lease structure. The outlook is stable. A pledge of the university's general receipts secures the bonds while recognizing that UK, for the taxable series 2009B Build America Bonds and 2010B Qualified
