NEW YORK (S&P Global Ratings) Nov. 8, 2021--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 the university's 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 series 2019A and 2019B COPs) . The outlook is stable
