NEW YORK (Standard&Poor's) Nov. 6, 2009--Standard&Poor's Ratings Services revised its rating outlook to stable from positive on University of Kentucky's debt. At the same time, Standard&Poor's assigned its 'AA-' long term rating to the university's $100.8 million series 2009B general receipts bonds and affirmed its 'AA-' underlying ratings (SPURs) on the university's outstanding debt. The outlook revision reflects Standard&Poor's concerns regarding an unexpected increase in debt to complete the ongoing hospital expansion project, a decrease in operating performance related to measurable endowment losses at the university, and soft health care operating income in fiscal 2009. The 'AA-' long-term rating reflects the university's land-grant flagship status, coupled with its broad programmatic offerings and
