University Of Kentucky's 2019A Tax-Exempt General Receipts Bonds Rated 'AA'

NEW YORK (S&P Global Ratings) Jan. 8, 2019--S&P Global Ratings assigned its 'AA' long-term rating to University of Kentucky's (UK) $14.22 million series 2019A tax-exempt general receipts bonds. In addition, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating on almost $1.1 billion 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, 2018, its outstanding long-term debt, inclusive of capitalized leases and notes, totaled $1.20 billion, and with the issuance of the series 2019A and an additional, planned, series 2020 bond issue totaling approximately $127.93 million, that we are factoring into this analysis, we estimate pro forma long-term debt will

...NEW YORK (S&P Global Ratings) Jan. 8, 2019--S&P Global Ratings assigned its '##' long-term rating to University of Kentucky's (UK) $14.22 million series 2019A tax-exempt general receipts bonds. In addition, S&P Global Ratings affirmed its '##' long-term rating and underlying rating on almost $1.1 billion 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, 2018, its outstanding long-term debt, inclusive of capitalized leases and notes, totaled $1.20 billion, and with the issuance of the series 2019A and an additional, planned, series 2020 bond issue totaling approximately $127.93 million, that we are factoring into this analysis, we estimate pro forma long-term debt will rise to $1.32 billion. "The rating reflects our view of UK's very strong enterprise and financial profile," said S&P Global Ratings credit analyst Ken Rodgers. The enterprise profile is characterized by a healthy market position...

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